The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Yen gives up early revenues on slightly poor PPI
On Wednesday, the Japanese yen gave up early revenues in Asia after producer prices turned to be a bit below expectations.
The currency pair USD/JPY hit 110.09, sliding 0.05%, AUD/USD reached 0.8024, leaping 0.05%
Safe-haven demand kept fading notwithstanding North Korea threatening America with the "greatest pain" it has ever faced reacting to fresh sanctions imposed by the UN. The greenback contributed to recent revenues versus both the Japanese yen and Swiss franc.
The overall outlook for the US currency is still bearish because market participants ramped up short bets versus the evergreen buck to a nearly 5-year maximum the previous week, as data from Commodity Futures Trading Commission states.
The British pound grew to its highest value in 2017 versus the greenback, reaching $1.3288 amid inflation data, which topped expectations.
In August, inflation, as gauged by the consumer price index, inched up to 2.9% year on year, jumping from 2.6% last month.
The US CPI and core CPI are due at 15:30 MT time on May 12.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
Stocks, oil and GBP gain on risk-on sentiment
Investors weigh reopening economies against the growing US-China tension. Which impulse will be stronger?
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