Greenback descends versus yen

Greenback descends versus yen

On Thursday, the evergreen buck was just a touch lower versus the Japanese yen after reaching an eight-week peak overnight. Simultaneously, the New Zealand dollar slid after the country’s major bank repeated it would keep rates intact for a significant period.

The currency pair USD/JPY declined 0.1%, hitting 114.16, having reached a peak of 114.37 overnight, which is its strongest value since March 15.

The evergreen buck managed to steady versus its Japanese counterpart having dropped early Wednesday because Donald Trump’s sudden firing of FBI Director James Comey definitely piqued traders’ aversion to risk.

Nevertheless, demand for the major American currency kept being supported by expectations for a rate lift by the Fed next month. Financial markets are actually pricing in about an 80% likelihood of a lift at the Fed's June gathering.

The common currency edged up, with EUR/USD soaring 0.1%, being worth 1.0877.


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