Asian currencies ascend after Yellen testimony

Asian currencies ascend after Yellen testimony

On Thursday, Asian currencies kept rising versus the greenback, after Fed Chair Janet Yellen suggested the major US bank will hold the course on monetary policy, while political concerns in America didn’t fade away.

In Asia, the Japanese yen stood still versus the American currency as of mid-morning.  The currency pair USD/JPY soared 0.04%, hitting JPY113.18, still reviving from multi-month minimums hit the previous week.

Meanwhile, the Chinese Yuan decreased 0.04% versus the greenback at 6.7852.

The greenback declined versus the Korean won 0.73%, trading at 1,136.82. As for the Thai baht, it gained 0.02% being worth 33.944, while the Taiwan dollar surged 0.12%, showing 30.309. On Tuesday, all three currencies had reported some of the biggest revenues versus the US currency.

The previous week, the greenback grew versus a basket of other key currencies after data unveiled that the American economy added up to 222,000 jobs the previous month, which is more than expected, and figures for April and May were also revised for the better.

 

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