Japanese yen rebounds steeply as traders look for safe-haven

Japanese yen rebounds steeply as traders look for safe-haven

On Friday, the Japanese yen rebounded steeply in Asia because market participants shifted to the safe-haven currency amid a leap in risk sentiment over the probable impact of American tax cuts because plans passed the House of Representatives as well as a major US Senate committee.

The currency pair USD/JPY hit 112.57, sliding 0.43%, AUD/USD ascended 0.04% reaching 0.7591. Additionally, EUR/USD soared 0.30% being worth 1.1805, GBP/USD rallied 0.30% trading at 1.3234.

Evaluating the greenback’s actual strength against a basket of six crucial currencies, the US dollar index went down 0.33% being worth 93.53.

Overnight, the evergreen buck didn’t change, shrugging off a couple of bearish reports on initial jobless claims as well as manufacturing ahead of a Republican House vote on a huge tax reform bill.

As the US Department of Labor informed on Thursday, initial jobless claims soared 10,000 to a seasonally adjusted 249,000 by November 11, confounding estimates of a 4,000 tumble.


British pound is near day’s maximums on UK retail data

On Thursday, the British pound was near the day’s maximums after data revealed that British retail sales tacked on at a far faster pace than anticipated in November as market participants waited for the outcome of the Bank of England’s monetary policy…

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…


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