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On Friday, the evergreen buck lose in Asia, and safe-have yen demand gained because rhetoric between North Korea and the United States escalated with any missile launches by North Korea a potential flashpoint.
Tracking the greenback’s value versus a trade-weighted basket of six main currencies, the US dollar index edged down 0.06% being worth 93.24.
The currency pair USD/JPY demonstrated 108.97, losing 0.20%, AUD/USD hit 0.7847, declining 0.36%.
Overnight, the US currency was nearly intact versus a basket of key currencies because the flight to safety trade proceeded in the wake of ascending geopolitical tensions between America and North Korea. Meanwhile, dismal inflation data contributed to downside momentum.
The evergreen buck struggled for direction because data disclosed the slowdown in inflation was still unabated and initial jobless claims data beat expectations.
At the same time, initial claims for state unemployment benefits went up 3,000 to a seasonally adjusted 244,000 by August 5, as the Labor Department informed on Thursday.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
USD’s rally takes a pause, while riskier assets are modestly rising.
We are now past the middle of January, and this means that the largest US companies will report their earnings for the fourth quarter and many of them will provide the results of the entire 2020.
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