Dollar Keeps Rising Against Yen

November 12, 2013

The yen weakened against most major counterparts today on low safe haven demand as investor confidence has been bolstered by improved US economic data.

Despite expectations of the Federal Reserve reducing monetary stimulus, market sentiment is holding up well and equity markets are up, especially in Asia today, which led to a yen sell-off.

The yen slid to its lowest level in seven weeks against the dollar in the Asian session and dropped to 99.64 per dollar, the weakest since September 20. It fell 0.3 percent to 133.34 per euro. The dollar rose 0.1 percent to $1.3393 per euro. The pound struggled to stay above the key $1.60 handle and declined to touch a session low of $1.5950.

The British pound will be in focus this week as there are many key risk events that will be the main driver for the currency. Today we have UK CPI. The Bank of England Inflation report will be closely watched this week as well as the UK employment report.

The BOE’s “growth forecast is likely to be revised higher and a faster decline in unemployment is likely to be anticipated”. In this case this will be positive for the pound.

Publication source
FxNet information  FxNet reviews

October 21, 2016
EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...
October 21, 2016
Decisions on QE Postponed until December
Asian stock markets are narrowly mixed, with Japanese bourses managing marginal gains as the Yen falls against the Dollar. Stock futures in the U.S. are down...
October 21, 2016
EURUSD at $1.09, but declines could be limited
The ECB monetary policy meeting yesterday saw the euro give up its intraday gains to close on a bearish note. As Draghi signaled that the central bank would need time to assess the monetary policy situation...

FBS Rating
XM Rating
FXTM Rating
FXCM Rating
Orbex Rating
FxPro Rating

24option Rating
TopOption Rating
Anyoption Rating
Binary Brokerz Rating
365BinaryOption Rating
Porter Finance Rating