Euro Slides From A 4-Year High Against The Japanese Yen

25 November, 2013

The US dollar is broadly stronger against its major G10 counterparts on Monday while the yen remains weak as a result of a sell-off due to outflows from safe havens like itself. 

The more risk-on market sentiment today was boosted by a deal reached over the weekend to curtail Iran’s nuclear program. Also keeping the Japanese currency under pressure is expectation for further weakening in the currency due to the Bank of Japan’s aggressive monetary policies, which BOJ Governor reiterated the central banks easy monetary policies to fight deflation.

The dollar reached a six-month high of 101.90 against the yen in early Asia but eased back slightly on profit taking in the European session to end at 101.80 yen.

EURUSD traded at 1.3518 after falling from the open and is down over 0.2% by the end of the European session. The euro was knocked down today partly due to ECB policymaker Hansson making remarks on various policy tools that remain available to fight disinflationary pressures, bringing back to the spotlight concerns over negative interest rates.

The euro peaked at a new four-year high of 137.97 against the yen early in the Europe trade before slipping 0.15% to 137.71.

Sterling is weaker today, with GBPUSD slipping 0.2% to $1.6165 as focus turns to the outlook for Bank of England policy.


Source link  
Aussie declines despite shrinking Australian trade deficit

The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...

USD/JPY slips as Nikkei falls in risk-off market after disappointing China PMI data

The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...

Technical Analysis On Major Currencies By FXNET

The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625


Euro Hits Fresh 1-Month High After German Inflation Data

The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...

Aussie Powers Through & Dollar Hits New 6-Month High Against Yen

The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...

Sterling and Euro Outperform Vs US Dollar

The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...


Euro Steady Around $1.35

The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...

Yen Up Against Dollar After Weak US Data

The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...

EUR/JPY Hits A New 4-Year High

The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...

  


Share: