Evergreen buck stays under pressure against Japanese yen

Evergreen buck stays under pressure against Japanese yen

On Thursday, the evergreen buck stood under pressure against the Japanese yen because market participants sought asylum in a safe-haven currency, fearing possible US military action against Syria.

Geopolitical tension has shifted some focus from the confrontation between the United States and China, and the Japanese yen often attracts demand in times of market turmoil as well as political tension.

The major US currency rose to Y107,400 on Tuesday after comments by Chinese President Xi Jinping reassured fears of a trade conflict between the US and China that has swept global financial markets for the last few weeks.

However, the delay for the evergreen buck was short because the emphasis shifted to the possibility of a wider military conflict in the Middle East.

Tensions intensified after US President Donald Trump warned Russia on Wednesday about the upcoming military actions in Syria due to the alleged use of chemical weapons.

The Australian dollar declined after the publication of some economic data from Australia, as well as the resumption of trade tensions.

The currency pair USD/JPY pair tacked on 0.09% showing 106.88. The safe-haven yen managed to pick up overnight because of risk aversion after shocking reports of Trump threatening military action at Syria absorbed attention. However, as the threat didn’t appear to be imminent, in general investor risk appetite revived and the US currency gradually revived.

The AUD/USD pair dived 0.01% ending up with 0.7754. Additionally, the sentiment-linked Aussie slumped in late morning on a reviving greenback. In addition, Australia's February home loan data offered an outcome of -0.2%, which is better than the anticipated -0.3%.

A mortgage report published by the Australian Bureau of Statistics showed that the number of mortgages in Australia fell in February at a weaker rate. The number of mortgage loans decreased by 0.2% in February after a decrease of 1.1% in January. Economists had expected a decline in the figure by 0.3%

 

 

Similar

USD/MXN: optimistic on the vaccine coming?
USD/MXN: optimistic on the vaccine coming?

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?

Latest news

USD starts the week with gains
USD starts the week with gains

Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.

ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

Manager will call your number

Correct number

Your request is accepted

Manager will call your number

Next callback request for this phone number
will be available in {time}

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera