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On Monday, the evergreen buck dived a bit versus the Japanese yen since the beginning of trade, staying below the two-month maximum, after the market got some clarity after the missile strikes on Syria by the United States as well as its allies on the weekend. However, soon the US currency lost its positions and kept going down during Asia trade.
The currency pair USD/JPY dived 0.20% coming up with a reading of 107.19. The anti-risk yen gains demand in times of market turmoil. Besides this, Japan’s trade figures are going to be released on Wednesday.
On Saturday, the US, France along with Great Britain launched up to 105 rockets aimed to three power facilities in Syria, thus responding to the hypothetical use of chemical weapons in Syria on April 7.
On Sunday, Russian President Vladimir Putin stressed that further attacks by the Western nations on Syria would provoke another world chaos.
According to a phone talk with his Iranian partner Hassan Ruhani, Putin and Ruhani agreed that with their missile attack the West had ruined the chances of coming to a sound political solution in the seven-year conflict in Syria, the Russian government told in a statement.
Vladimir Putin emphasized that if such outrageous actions committed in violation of the UN Charter keep unrolling, it will undoubtedly lead to a huge mess in international relations.
Additionally, US Ambassador to the UN Nikki Haley informed that the United States will announce on Monday new economic sanctions aimed at companies and related to Syrian President Bashar Assad in response to the hypothetical use of chemical weapons.
As some market experts pointed out the reaction in the foreign exchange market turned to be limited, as President Trump warned in advance about a possible attack on Syria, thus giving traders enough time to participate in this event.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
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