Greenback is backed as spotlight dips on monetary policy

Greenback is backed as spotlight dips on monetary policy

On Friday, the evergreen buck was buoyant versus the Japanese yen because some traders bought back the currency for the purpose of squaring positions ahead of a gathering of key bankers in Jackson Hole, Wyoming.

While Fed Chair Janet Yellen as well as ECB Governor Mario Draghi are supposed to stay on script in speeches later in the day, market participants are actually hungry for any signs on further American rate lifts, the timing of its balance sheet tapering and also whether the EU is still considering reining in stimulus.

Yellen is expected to deliver a speech at 1400 GMT. As for Draghi, his conference will start at 1900 GMT.

The evergreen buck turned to be a shade firmer being worth 109.640 yen having soared 0.5% overnight.

The US currency was braced for concluding 0.3% stronger versus the Japanese yen on the week, during which it had declined to 108.635 yen following geopolitical tensions coming from the Korean Peninsula.


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