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Euro trades lower amid ECB's policy release

Euro trades near its three-year low versus the Japanese yen, amid the ECB's decision to cease implementing any changes to its policy mix.

The U.S. dollar fell against the yen to a two-week low as the investors remain cautious and conservative.

Euro and dollar trade at 1.1156

The U.S. economy, as per the market consensus, may have added 164,000 jobs in May, almost unchanged compared to April's figures.

According to Sumitomo Mitsui Trust Bank strategist, Ayako Sera, the traders and the investors should wait before going long either on the yen or the dollar.

The U.S. dollar declined to 108.57 yen, falling 0.3%, and recorded a weekly loss of 1.6%. The U.S. dollar index traded 0.1% lower at 95.49.

Furthermore, the majority of the traders and the investors did not expect that the FED would increase rates in June as Janet Yellen brought the matter back to the meeting agenda.

Yesterday, the euro region's currency, after diving to 121.06 yen, stabilized at 121.15, being 1.1% lower for the week.

Moreover, the euro traded at 1.1156 versus the U.S. dollar, stabilizing above Monday's 1.1097 level.

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Friday, 03 Jun, 2016 / 8:42

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Source : https://www.argusfx.com/en/research-education/market-analysis/news/euro-trades-lower-amid-ecb-s-policy-release

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