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On Monday, the evergreen buck stood still versus the Japanese yen, having rebounded from 12-week maximums reached the previous week. It’s because renewed focus on geopolitical risks amid worries that North Korea might be preparing another missile launch.
North Korea is believed to be preparing another long-range missile test. The given missile is supposed to be capable of reaching the west coast of America.
The newly-revived focus on geopolitical tensions definitely helped to lend support to the safe haven Japanese yen, and also brought the greenback down from its post-US jobs data peaks.
On Friday, the evergreen buck was already in retreat because of profit-taking, when the North Korea-related shocking headlines reached financial markets, exacerbating the US currency’s dip.
The greenback hit 112.56 yen, standing still on the day. As for Friday, that day the US currency had hit a maximum of 113.44 yen, which is the highest outcome since July 14.
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 European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
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