On Monday, on the Investing…
Greenback slumps vs. euro ahead of G7 summit
On Thursday, the evergreen buck declined against most currencies of developed countries, including the common currency and the Japanese yen ahead of the G7 gathering at the level of heads of state and government in Canada.
The common currency hit $1,1805 in contrast with $1,1774 at the close of previous trading session. Previously, the euro managed to tack on nearly 0.5% in this pair and got to a peak of two weeks.
The surge of the common currency keeps backing the statements of the leaders of the EU’s key financial institution as for the likelihood of completing the quantitative easing program before the end of 2018.
Meanwhile, versus the Japanese national currency, the evergreen buck dived to about 110.04 yen from 110.18 yen.
Against the Japanese yen the euro demonstrated a reading of 129.88 yen versus 129.74 yen just the day before.
As for the ICE Dollar Index, it slumped about 0.1%.
As a matter of fact, the summit of the "Group of Seven" is expected to burst out on Friday in La Malba (Quebec, Canada). Moreover, it’s anticipated that one of its key themes are going to be the trade disagreements of six G7 participants with the United States because of American tariffs on steel as well as aluminum.
The evergreen buck found itself under pressure because the tension in trade matters seems to go up before the G7 gathering. Uncertainty over the outcome of the gathering is edging up. It is due to the fact that there’s a clear clash between the United States of America and other nations. That’s what some market experts uncovered.
By the way, Larry Kadlow, American economic adviser dared to call the given trade disagreement before the G7 highly anticipated summit a banal family quarrel.
On Friday, the evergreen buck moderately rallied versus its counterparts, staying on track for posting consecutive weekly profits for the first time since November…
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Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…