Greenback sways vs. euro and yen

26 September, 2016

On Monday, the evergreen buck wobbled against the Japanese yen and euro, cautiously held in rather a narrow range ahead of the impending first debate between American presidential candidates that could potentially determine the currency's near-term direction.

The US dollar was off lows versus the Japanese yen and common currency it hit late the previous week after long-term rate lift hopes were tempered following the September 20-21 Fed policy gathering, though it remained on shaky ground because market focus was shifted from monetary to political risk.

The greenback traded down 0.1% at 100.860 yen. On Thursday, it reached a one-month minimum of 100.100 before rebounding to as high as 101.250 towards the end of the previous week.

The euro inched up 0.1%, trading at $1.1234, thus contributing to Friday's modest revenues made after the issue of relatively positive euro zone flash composite purchasing managers' index. On Thursday, the common currency briefly edged up to as high as $1.1258. 


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