USDJPY is rising after Federal Reserve decisions
Last Updated on August 27, 2020
USDJPY rose, following the move by Federal Reserve to change its policy on inflation.
On sidelines of “Jackson Hole” event, which is taking place hypothetically, Federal Reserve announced adoption of a policy of “average inflation target” instead of inflation target that it adopted over years at 2%, which allows targeting an average of 2% higher for some time.
Government data in Japan revealed that industrial activity index rose by 6.1% in past month, while analysts’ expectations indicated a rise of 6.3%.
In United States, data showed a decline in number of initial jobless claims during past week to 1,006 million, while expectations indicated a decline of about one million applications. second reading of GDP recorded a contraction of 31.7% in second quarter, while expectations indicated a contraction of 32.5%.
In terms of trading, USDJPY rose by 21:06 GMT by 0.6% to 106.6, and the highest price today was recorded at 106.7, while the lowest price was recorded at 105.6.
USDJPY rose although dollar index declining
On Thursday, dollar index fell by 0.1%, extending its losses for second day in a row, reflecting continued decline in levels of greenback against a basket of major and minor currencies.
This decline comes in light of slowing demand for the currency as best alternative investment, and in light of positive sentiment that dominates markets, after United States and China confirmed to proceed with the implementation of first phase of trade agreement reached last January.
- EURUSD falls before the results of the European Central Bank meeting - March 10, 2022
- Gold prices hit their highest level in a year - February 24, 2022
- Gold prices fell after hitting the highest level of 1900 dollars an ounce - February 18, 2022
EURUSD falls before the results of the European Central Bank meeting
EURUSD witnessed a decline in the morning of Thursday's trading in the European market after…
Gold prices hit their highest level in a year
Gold prices jumped more than 2% during today's session in the European market, in the…
Gold prices fell after hitting the highest level of 1900 dollars an ounce
Gold prices fell during today’s session in the European market, after yesterday recording a record…
EURUSD moves away from three-week highs after US inflation data
EURUSD fell on Friday morning in the European market, and recorded its first daily loss,…
EURUSD continues to climb to the highest level in three weeks
EURUSD continued to achieve gains on Friday morning in the European market, and recorded the…
Gold prices drop with the continuous rise of the US dollar
Gold prices fell during the trading session today in the European market, to deepen their…