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Japanese Yen Finds Direction As Investors Show Currency Is ‘Undervalued’

The Japanese yen is continuing to find direction at the end of the trading week as analysts say that the currency is “undervalued.” As the market fears over the Turkish crisis dissipate, several currencies are looking to gain some momentum in this volatile environment, and one of them might be the yen.

Canadian Dollar Among Weakest Currencies Despite Solid Data

The Canadian dollar was among the weakest currencies today despite solid macroeconomic data and gains of crude oil, Canada’s major export commodity. The possible reason for that were resurfacing concerns about the Turkish situation.

Pound Attempts to Rally on Positive Retail Sales, Remains Vulnerable

The Great Britain pound attempted to rally against some of its rivals today but was still hanging near the 14-month lows. While UK retail sales beat expectations and the general market sentiment improved, Brexit fears were still weighing on the currency.

Euro Recovers as US-China Trade Talks Are Set to Resume

The euro today recovered from the 14-month lows hit yesterday following the news that trade negotiations between China and the USA are set to resume later this month. The EUR/USD currency pair was also boosted by the release of the latest Eurozone trade balance data in the early European session, which beat expectations.

AUD Rallies on Improving Market Sentiment, Decent Economic Data

The Australian dollar rallied today, boosted mainly by the improving market sentiment. Australia’s macroeconomic data released over the trading session was somewhat mixed, but mostly good.

Indonesian Rupiah Stable After Central Bank Raises Interest Rates

The Indonesian rupiah rose a bit against the US dollar today after Indonesia’s central bank raised interest rates to stop the drop of the currency.

Turkish Lira Continues to Recover, Boosted by Qatar Investment

The Turkish lira continued to recover, rising for the third straight trading session against the US dollar and the euro today.

Chinese Yuan Hovers Around Lowest Level Since May 2017

The Chinese yuan is hovering around its lowest level since May 2017 on Wednesday as the equities market plunged, US-China trade tensions escalated, and investors continued to sell off their yuan holdings this week. Is this a sign that the worst may be behind the currency? These are factors that may already be priced in the yuan, capping its rapid descent.

Australian Dollar Dips Intraday, Rebounds Later

The Australian dollar dipped intraday during the Wednesday’s trading session but has bounced against most of its rivals by now and is trading near the opening level. Today’s macroeconomic data released in Australia was mixed.

Euro Trades at 13-Month Lows on High Market Volatility

The euro today traded at 13-month lows as it was driven lower by market volatility in emerging markets led by Turkey resulting in a strong US dollar. The EUR/USD currency pair traded lower due to the selloff in emerging market currencies, which increased the demand for the greenback at the expense of its peers including the euro.

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