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

November 25, 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.

Publication source
FxNet information  FxNet reviews

October 28, 2016
Greenback sticks to three-month peaks
On Friday, the Japanese yen remained close to it weakest level against the greenback for three months during Asia trade, right after a surge in American bond yields as well as the issue of economic data backing the case for growth in American interest rates strengthened the US dollar overnight...
October 28, 2016
Dollar remains king
The mounting expectations over the Federal Reserve raising US interest rates in December have inspired bullish investors to send the Dollar Index to fresh eight-month highs at 99.00...
October 28, 2016
OPEC is ready to formally seal the output
The crude oil gains as the Algerian Energy Minister Noureddine Butarfa hit the market with a statement saying that OPEC has a plan to complete the formal part of the output freeze agreement in the next meeting...

XM Rating
HYCM Rating
Vantage FX Rating
OctaFX Rating
FXTM Rating
Fort Financial Services Rating

Banc De Binary Rating
Grand Option Rating
OptionsXO Rating
Beeoptions Rating
Empire Option Rating
24option Rating