Home Tools Friday’s Euro and Sterling rallied, while Yen plummeted

Friday’s Euro and Sterling rallied, while Yen plummeted


Sterling and Euro rose Friday while Yen plummeted

The euro gained slightly against the greenback Friday. The currency was traded at $1.061, 0.1% higher than the previous session. The currency had dropped by 0.1% during the previous session. The U.S. Dollar also fluctuated. In London, it moved little in morning trading. The greenback rallied in the two sessions that followed until Friday. As economic data proved stronger than expected, the greenback stopped moving. Investors are now considering the possibility of rate increases.

Friday saw the Japanese yen plunge 0.2% to USD 132.62. However, the yen still maintained a steady 3% weekly gain. The Bank of Japan changed a key bond market policy earlier this week, causing the Yen’s surge.

As the U.S. Federal Reserve increased its interest rates aggressively to combat rising inflation, the dollar has risen by nearly 9%. Since September’s 20-year high, the dollar index had fallen more than 8 percent. Investors were hopeful that the agency would end its tightening cycle due to a sharp decline in U.S. inflation.

On Thursday, new data showed the U.S. citizen filing new…

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