On Monday, the evergreen buck was intact staying below 19-month maximums versus a group of its primary rivals…
Greenback jumps on soaring Treasury yields
On Friday, the evergreen buck rallied to a 10-day maximum after American consumer prices data disclosed a build-up of inflation pressure, which would enable the Federal Reserve to have rates lifted up to four times in 2018.
Estimating the US currency’s purchasing power against its six key rivals, the USD index managed to tack on by up to 0.13% being worth 94.69.
It’s evident that this week the evergreen buck derived benefits from the trade clash worries that showed up earlier. It definitely backed the currency, as a safe-haven asset.
The American economy has demonstrated that it’s in a good shape and Treasury revenues have tacked on. Needless to say, these crucial factors have greatly underpinned the evergreen buck.
On Wednesday, a trade clash between America and China intensified because the US government uncovered its firm intention to impose 10% duties on $200 billion worth of China’s products.
The tit-for-tat duties have powered concerns that the world’s two leading economies could spark a fierce trade conflict that market participants fear could affect global surge.
As a matter of fact, the currency pair USD/JPY managed to inch up by 0.12% being worth 112.65. This week the major American currency has soared approximately 2% versus the Japanese yen, normally purchased as a safe haven in times of market turmoil and political tension.
At the same time, the currency pair AUD/USD ascended about 0.07% being worth $0.7413 because Friday’s data disclosed that China's dollar-denominated exports soared a higher-than-anticipated 11.3% in June from 2017.
Besides this, the UK currency headed south to a one-week minimum because American leader Donald Trump warned British Prime Minister Theresa May that this soft Brexit proposal of hers could have an adverse impact on the trade deal with the United States of America.
On Monday, crypto assets generally dipped in Asia…
On Friday, the greenback rallied because traders shifted their focus to the highly-anticipated Federal Reserve rate lift already next week, notwithstanding uncertainty over next year’s rate lifts kept gains in check…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…