What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
Japanese yen is intact after North Korea missile launch
On Friday, the Japanese yen was intact versus the evergreen buck, having leapt earlier as North Korea dared to fire another ballistic missile over Japan, thus spurring investor concerns over geopolitical risks.
In early Asian trade the evergreen buck declined from 110.25 yen to 109.55 yen following reports of North Korea's fresh missile launch.
Later the US currency pared its losses, and was last demonstrating 110.19 yen - nearly intact from Tuesday’s late US trade.
Japan happens to be the world's number one net creditor nation. So, at times of uncertainty investors assume that Japanese repatriation of overseas funds will overshadow foreign traders’ selling of Japanese assets.
Therefore, the Japanese yen has kept operating as a safe-haven currency notwithstanding Japan's geographical proximity to the isolated regime.
Additionally, versus another safe have, the Swiss franc, the greenback was intact, sticking to 0.9635.
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
All eyes are turning to the Federal Reserve and the US dollar. How to trade XAU/USD, EUR/USD, and GBP/USD?
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
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