The U.S. Dollar fell seven months ago. What about The Yen
On Monday, the U.S. dollar was in negative. The currency fell to a seven month low against six Asian peers. Investors were focused on the Japanese currency and expected the Bank of Japan’s yield control policy to be changed.
The greenback remained firm in European trading. The British Pound recovered some losses. Last, it saw 0.4% decline in $1.2185.
The euro soared to $1.087474 in early trade, a nine-month high. The common currency dropped by 0.16% to $1.0861, however. The Australian dollar surged to $0.7000 for the first-time since August. The currency fell to $0.6959 soon afterwards.
The soaring Pound/yen caused the dollar index to plummet to a seven month low, and it traded at 101.77 today. After fresh data showing that consumer prices in the United States dropped last month for the first time since 2002, the currency began to sell off last week.
MUFG analysts observed that all G10 currencies jumped against the greenback last Wednesday as U.S. inflation data from December supported the risk-on mood in the markets ….