Dollar trades lower amid Japan's warning

Wednesday, 11/05/2016 | 08:13 GMT

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Dollar turns lower versus its counterpart, the yen, amid Japan's warning on interfering in the FX market, and as investors and traders cashed out their profits.

U.S. dollar and yen trade lower to 108.72

The USD/JPY pair fell from the 109.36 zone, Tuesday's high, to 108.72, and recorded a declination of 0.51%.

Following Taro Aso's, Japan's Finance Minister, statement, should it be the scenario where the yen is not able to affect the economy positively, that the financial authorities will intervene in the FX market, the U.S. dollar gained versus the yen.

Moreover, the EUR/JPY traded at 123.76, falling from 124.43, weakening 0.41%, whereas the EUR/USD climbed to 1.1390, appreciating 0.17%. The U.S. dollar index traded at 94.06, sliding 0.17%.

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Source: https://www.argusfx.com/en/research-education/market-analysis/news/dollar-trades-lower-amid-japan-s-warning

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