Greenback soars vs. yen

Greenback soars vs. yen

On Wednesday, the US dollar regained some traction against the Japanese yen during Asia trade, while remaining under pressure after North Korea launched a ballistic missile into the sea.

The launch, coming just ahead of a summit between Chinese and American leaders, backed demand for the perceived safe-haven Japanese yen, which tends to go up in times of risk aversion or geopolitical tension.

The greenback actually got some help from Japanese importers on a so-called "gotobi" date. That’s a multiple of five on which accounts are normally settled.

However, worries about the upcoming China-U.S. summit capped the greenback’s upside, as well as ascending speculation that US President Donald Trump will experience challenges implementing his promised movies in the wake of his administration's recent failure to pass healthcare reform.

The greenback added 0.1%, hitting 110.85 yen, drifting away from its overnight minimum of 110.27, though quite below last Friday's 10-day high of 112.19 yen.

 

Similar

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera