Trading news

Dollar higher against the yen

Weekly synopsis

Dollar escalated versus the Japanese yen, following the high expectations for the FED increasing interest rates in June, while falling against the euro as the traders and the investors took profits earlier.

The USD/JPY pair, before trading at 110.13, climbed to 110.59, gaining 1.35% for the week, having performed a consecutive rise for three weeks.

Euro and dollar 0.84% lower last week

The EUR/USD traded, not far from Thursday's level the 1.1179 area, at 1.1213, trading for the week 0.84% lower. The U.S. dollar index stabilized at 95.29 while rising 0.8% for the week.

Furthermore, FED's April meeting boosted the dollar, after indicating that the interest rates may likely rise as of next month.

In the scenario of higher interest rates, this could boost the U.S. dollar upper as the yield investors will be attracted to the U.S. currency.

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Monday, 23 May, 2016 / 7:37

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Source : https://www.argusfx.com/en/research-education/market-analysis/weekly/dollar-higher-against-the-yen

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