How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Greenback stands still as traders digest Fed statement
On Thursday, the evergreen buck didn’t change versus other key currencies because financial markets were still digesting the Fed’s fresh policy statement, simultaneously looking ahead to a string of American economic reports due later in the day.
In a widely anticipated move, the Fed had its interest rates increased to 1.50% by 0.25 basis points at its policy gathering on Wednesday.
Assessing the US currency’s strength versus a trade-weighted basket of six main currencies, the US dollar index was nearly intact sticking to 93.4, off a one-week minimum of 93.33 reached overnight.
The common currency was intact, with EUR/USD being worth 1.1821. Meanwhile, GBP/USD ascended 0.22% hitting 1.3447.
This month the euro zone reported its fastest surge in business activity in nearly seven years.
The Japanese yen and the Swiss franc decreased, with USD/JPY edging up 0.20% hitting 112.76. USD/CHF rallied 0.30% being worth 0.9884.
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