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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.
Today, the election in Canada will determine whether the Liberal Party Prime Minister Justin Trudeau or the Conservative Party leader Andrew Scheer will lead the government…
The reports that the UK and the EU reached a deal pushed the GBP up immediately.
Australia will publish the level of employment change and the unemployment rate at 3:30 MT on October 17.
Today, the election in Canada will determine whether the Liberal Party Prime Minister Justin Trudeau or the Conservative Party leader Andrew Scheer will lead the government…
The week will bring us fresh updates on Brexit and the last ECB meeting with outgoing president Mario Draghi.
De-escalation between the US and Turkey and News for the GBP are on the agenda
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