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Japanese Yen Remains Soft Despite Pessimistic Mood

The market sentiment remained pessimistic, encouraging investors to stick to safer assets. But that did not help the Japanese yen, which was one of the weakest currencies on the Forex market during Thursday’s trading.

Japanese Yen Starts Friday Weak, Rebounds Later

The Japanese yen started Friday’s trading weak but managed to rebound and is now trading as the strongest currency on the Forex market. The currency gained on the US dollar as the FOMC-inspired rally of the greenback continued to fade. Today’s macroeconomic data in Japan demonstrated deflation of consumer prices, though experts were expecting that.

Canadian Dollar Soft Despite Surge in Crude Oil Prices

The Canadian dollar was soft today, falling or staying flat against its most-traded peers. Even the strong rally of crude oil prices was unable to aid the currency. One of the possible reasons for the loonie’s weakness was disappointing domestic inflation data.

USD/CNY Flat As New Bank Loans, Credit Growth Beat Market Forecasts

The Chinese yuan is trading flat against the US dollar to finish the holiday-shortened trading week. The yuan is trying to find support on positive numbers relating to credit markets. The currency has appreciated in recent months as the world’s second-largest economy stabilizes and rebounds in the aftermath of the coronavirus pandemic.

Euro Rallies Then Falls Against the Dollar on Upbeat US Inflation

The euro today rallied higher against the US dollar following hawkish speeches by European Central Bank policymakers during the early European session. The EUR/USD currency pair later gave up some of its gains as the Brexit rhetoric weighed on the single currency combined with the upbeat American inflation data.

US Dollar Weak, Ignores Good Inflation Data

The US dollar was among losers today, falling against most other major currencies and trading on par with the weakest of them, like the Japanese yen, the Great Britain pound, and the Canadian dollar. It looked like the release of US inflation data should be the major event on Friday but traders largely ignored it. The report came out better than expected but had hardly any positive impact on the greenback.

Chinese Yuan Renews Gains on Market Rally, Positive Data

The Chinese yuan is looking to start another winning streak after the currency suspended its momentum against the US dollar. The yuan has been on a tear in recent months, testing 6.8 against the greenback, primarily due to favorable domestic economic data and a weakening buck. But escalating US-China tensions and the plunge in equities in recent sessions could limit the yuan’s gains – for now.

US Dollar Index Tops 93.00 As Bullish Data Supports Greenback

The US dollar is continuing its winning streak on foreign exchange markets during the Labor Day holiday. The greenback has been staging a rebound over the last several trading sessions after cratering 11% since hitting a peak of 103.00 earlier this year at the height of the coronavirus pandemic. The buck has been rallying on a multitude of factors, including bullish economic data and COVID-19 concerns, but analysts are still maintaining a bearish […]

Turkish Lira Weakens As Investors Weigh Monetary Policy, Poor Economic Data

The Turkish lira is continuing its downward trend against the US dollar midweek as investors start to weigh the central bank’s policies. The lira faced additional pressure on weakening economic data, including the second-quarter gross domestic product and manufacturing numbers.

South Korean Won Mixed As Inflation, Manufacturing PMI Drive Currency

The South Korean won is mixed in the middle of the trading week as inflation and manufacturing data drive one of the worst-performing Asian currencies this year. Although the won has recovered against the greenback since June, the currency has come under a lot of pressure based on the recession and a coronavirus resurgence. Could the won retest 1,200 by the year’s end?

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