On Friday, the evergreen buck is holding near a two-week maximum, on what needs to be a quiet trading session for currencies with most other key American as well as global exchanges unavailable due to the observance of Good Friday…
Greenback surges on less dovish remarks from Fed’s Clarida
On Tuesday, the US dollar ascended after less dovish remarks from Fed Vice Chairman Richard Clarida.
Gauging the purchasing power of the major US currency versus its main counterparts the USD index managed to surge by up to 0.19% being worth 97.16.
On Tuesday, Clarida told that interest rates happen to be neutral. The major financial institution requires taking a gradual approach to lifting interest rates based on data, Clarida told.
As the American economy has shifted to a neighborhood consistent with the US major bank’s dual-mandate goals, risks have become less skewed and more symmetric to the downside than when the current interest rate cycle started three years ago, Clarida told.
The statesman’s remarks helped to underpin the US dollar that often goes up when interest rates are lifted.
Meanwhile, the evergreen buck was kept in check by China-US trade fears after US leader Donald Trump said in his interview with the Wall Street Journal that he won’t probably cease lifting tariff rates on China on January 1.
The greenback managed to go up versus the safe-heaven Japanese yen. The currency pair USD/JPY headed north by 0.11% coming up with 113.71. In hard times, investors are prone to investing in Japan’s currency that is considered a reliable asset for periods of risk aversion.
As for the common currency, it headed south too because of the stronger evergreen buck. As a matter of fact, the currency pair EUR/USD slumped by 0.18% being worth 1.1308.
Additionally, the UK currency was still low. The currency pair GBP/USD went down to 1.2747 after US leader told that the Brexit draft deal appears to be a good deal for the European bloc, backing fears that the United Kingdom won’t be able to trade as easily with his country.
On Thursday, prices of the key crypto assets headed north in Asia…
On Thursday, the common currency stood still after evidence of strength in the Chinese economy improved the outlook for the world economy, with the financial markets looking next to EU gauges to provide the euro with a further boost…
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…