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On Friday, the evergreen buck edged up against the backdrop of ascending American Treasury revenues to February’s values as well as forecasts of interest rate hikes that turned out to be more important than fears of a probable trade conflict.
The US dollar index, gauging the purchasing power of the key American currency to the basket of six leading rivals, inched up by 0.27% ending up with a result of 89.88.
On Friday, the yield of US government bonds inched up again: the yield on US biennial bonds rallied to 2.437%, which is its highest value since September 2008. The yield of ten-year US government bonds leapt to 2.916%.
Treasury yields are inversely proportional to their value. The sharp increase in the yield of American government bonds in February provoked a collapse on the stock exchanges, when traders hurried to buy up the evergreen buck, expecting that inflation surge could lead to acceleration in the rate of interest rate increase.
In recent months, the US currency has been under pressure because of the trade policy of the US President Donald Trump. On Friday, the Chinese ambassador to the US told that if the White House proceeds with unleashing a trade war, then China is ready to come up with a mighty response.
The evergreen buck tacked on versus the Japanese yen. The currency pair USD/JPY went up by about 0.23% being worth 107.60. In times of political or economic instability, investors prefer investing in the Japanese yen, which is considered to be a reliable protective asset.
The UK pound fell against the backdrop of statements by the head of the Bank of England Mark Carney who openly backed a soft monetary policy. The currency pair GBP/USD headed south by 0.25% trading at 1.4052.
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On Wednesday, the Japanese yen headed south versus its major peers because investor risk appetite improved during Asia trade, although worries over decelerating global surge and US-China trade clashes will probably cap gains in risky assets…
On Tuesday, the evergreen buck managed to stabilize in Asia because the International Monetary Fund had its 2019 as well as 2020 global surge forecasts cut overnight…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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