Fri, January 27, 2023

Forex Markets: Dollar grapples ahead Fed minutes while gaining in Yen

Dollar grapples ahead Fed minutes while gaining in Yen

The dollar struggles on facing its peers today, falling before the Federal Reserve’s (Feds) policy minute talk. However, it manages to gain on the yen when strong investor risk desires to rim the demand of the Japanese money. That makes the U.S. dollar up by 0.2 percent at about 110.83 yen.

As the safe-haven currency in times of risk aversion, the Japanese currency gives up the ground. That brings Tokyo shares up to a fresh two-month high.

Koji Fukaya, president of FPG Securities says, “The yen is on the defensive with strong equities prompting a risk on mood.”

Dollar inclines in the yen

The dollar receives its initial gain last Tuesday. Upon Bank of Japan Governor Haruhiko states that the central bank is ready to incline its stimulus if sharp yen rise to hurt the economy.

Kuroda says, “The BOJ does not really have a lot of options left even if it wanted to act. But the global trend -starting with the United States, Europe, and Australia- is moving toward central bank modishness and the BOJ’s stance is in line with the trend.”

Against the group of six major currencies, the dollar index touches lower at about 96.451 upon dropping 0.4 percent overnight. Yukio Ishuzuki, senior currency strategist at Daiwa Securities says, “The dollar is weighed with Treasury yields on a downturn. Attempts by participants to price in potentially dovish FOMC (Federal Open Market Committee) meeting minutes are also keeping the dollar on the defensive.”

On Tuesday, benchmark 10-year U.S. Treasury yields declines at an 11-day low. That was ahead of the Fed meeting minute’s deadline today.

The Fed’s January minute meeting is watched closely upon a dovish statement on the review. The dollar truly struggles on most of its peers, together with yen; it becomes a safe-haven.

Just last week, the dollar gains its two-month high. However, demand for the greenback decline on optimism that the fresh round of meeting among China and the U.S. could help solve the trade conflict.

Other Currencies

On Tuesday, the euro also inclines 0.1 percent to $1.1353, standing near two-week highs of $1.1358. Meanwhile, the pound also gains overnight rally. It gains a two-week high of $1.3077.

The Sterling also gains more than 1 percent last Tuesday hoping that British Prime Minister Theresa May makes progress to look for changes in her Brexit deal with the European Union.

YOU MAY ALSO LIKE

natural gas

US natural gas futures fell below $3 due to mild winter weather,

Fox Corp and News Corp Won’t be Merging Anymore

Rupert Murdoch merged News Corp. and Fox Corp. once. However, he decided

dollar

The US dollar changed a little in European morning trade on Thursday.

COMMENTS

197 responses to “Forex Markets: Dollar grapples ahead Fed minutes while gaining in Yen”

  1. I like it when people get together and share views.
    Great blog, stick with it!

  2. What a data of un-ambiguity and preserveness of valuable
    knowledge regarding unpredicted feelings.

  3. Aw, this was a very good post. Taking the time and actual effort to generate a top notch article… but what can I say… I put things off a whole lot and never seem to get nearly anything done.

  4. Anisa Sissom says:

    I love what you guys tend to be up too. Such clever work and coverage! Keep up the very good works guys I’ve included you guys to our blogroll.|

  5. hi!,I really like your writing very so much! percentage we communicate more approximately your article on AOL?

    I require an expert in this house to solve my problem. May be
    that is you! Taking a look forward to look you.

  6. I do not even know how I ended up here, but I thought this post was great.
    I don’t know who you are but certainly you are going to a famous blogger
    if you aren’t already 😉 Cheers!

  7. Very good article. I will be facing a few of these issues as well..|

  8. Sal Reavish says:

    Your mode of telling everything in this post is in fact pleasant, every one can effortlessly know it, Thanks a lot.|

  9. Sxbolj says:

    essays help – money can t buy everything essay online thesis writing

  10. Hello There. I found your blog using msn. This is a very well written article.
    I’ll be sure to bookmark it and come back to read more of your useful
    information. Thanks for the post. I’ll certainly return.

Leave a Comment

Your email address will not be published. Required fields are marked *

BROKER NEWS

OANDA Japan: No More fxTrade, USD/JPY Margin Shift

On Friday, one of Japan’s longest-standing online forex and CFD brokerages, OANDA Corporation, announced major changes to their service.  Specifically, the Japanese subsidiary of the brokerage will no longer allow new downloads of

BROKER NEWS

Broker News

OANDA Japan: No More fxTrade, USD/JPY Margin Shift

On Friday, one of Japan’s longest-standing online forex and CFD brokerages, OANDA Corporation, announced major changes to their service.  Specifically, the Japanese subsidiary of the brokerage will no longer allow new downloads of its