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:
US dollar index sticks to 13-month low
On Monday, the evergreen buck struggled near a 13-month minimum versus a basket of key counterparts because American political turmoil dampened expectations for quick passage of Donald Trump's stimulus as well as tax reform agendas and the common currency extended revenues.
On Friday, the Trump administration, currently dogged by investigations into hypothetical Russian meddling in the American election, took a fresh hit after White House spokesman Sean Spicer shelved himself. That’s a hint at a sort of upheaval in the president's inner circle.
The US dollar index tracking the evergreen buck versus six major rivals, was nearly intact keeping to 93.887, having touched 93.823, its lowest outcome since June 2016.
On Friday, the benchmark 10-year American Treasury note yield reached a three-week minimum because a retreat on Wall Street drove safe-haven demand for debt.
The common currency stood still at $1.1668 having soared to a 23-month peak of $1.1684.
The evergreen buck slumped 0.15% reaching 110.970 yen, with the yen at its strongest value in five weeks.
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