How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Greenback approaches two-year minimums versus euro after Draghi comments
On Friday, the American currency headed for weekly losses, fluctuating at its lowest levels versus the common currency in almost two years after what financial markets perceived as a hawkish clue from ECB Governor Mario Draghi.
However, the Australian dollar skidded versus the US dollar after quite dovish remarks from a Reserve Bank of Australia official.
The dollar index, assessing the evergreen buck versus a basket of six counterparts, didn’t change, sticking to 94.322, which is not far from its overnight drop of 94.090, its deepest outcome since August 2016.
The common currency caught its breath and stabilized at $1.1626 having climbed to $1.1659 on Thursday. That’s the euro’s loftiest value since August 2015.
The greenback rallied 0.1% versus the Japanese yen hitting 112.06, having touched an overnight minimum of 111.48, which is its lowest outcome since June 27.
The common currency added 0.1% versus its Japanese rival to 130.32 yen.
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