Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Dollar keeps to six-week minimum vs. yen
On Wednesday, the evergreen buck kept to a six-week minimum versus the safe-haven yen, with market participants cautious ahead of the UK’s general election, a ECB policy verdict, not to mention testimony by ex-FBI Director James Comey.
The US currency showed 109.490 yen, which is not far from 109.225, its lowest outcome since April 21 reached overnight.
This week the greenback lost 0.9% versus the Japanese yen, also suppressed by a steep dip in US Treasury yields to seven-month minimums as market participants looked for the safety of government debt.
The greenback was seen suppressed because previously bullish equities also started dipping. Wall Street stocks drifted away from recent record peaks and sagged overnight because demand for risky assets faded ahead of Thursday's events.
The common currency euro was nearly intact at $1.1267, having soared 0.2% overnight.
The British pound dived 0.1%, hitting $1.2900, having swerved between $1.2951 and $1.2873 yesterday.
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