The Japanese yen is trading flat midweek after several mixed news reports came out pertaining to the world’s third-largest economy. While a new poll shows economists fear upcoming trade spats with the US will impact the Japanese economy, a new study discovered that Tokyo remains one of the most competitive places in the world today.
The euro today has traded erratically against the US dollar from the start of today’s session as both sellers and buyers pushed to gain control of the single currency. The EUR/USD currency pair traded both higher and lower as it struggled to find direction despite the release of positive eurozone inflation data, but was heading lower at the time of writing.
The euro today has been alternating between gains and losses against the US dollar from the start of the session due to the risk-off sentiment in the markets. The EUR/USD currency pair dipped to new daily lows after the release of the German ZEW survey data, whose prints came in way below expectations.
The euro today dropped from 2-week highs against the US dollar as the greenback rallied higher from the early European session to recoup most of yesterday’s losses. The EUR/USD currency pair rallied slightly after the release of positive German inflation data, but could not sustain its rally due to the resurgent greenback.
The Japanese yen fell intraday but as many other currencies was trading near its opening level later. Domestic macroeconomic data was mixed, giving the currency no reason to go one way or the other.
The euro today rallied higher against the US dollar from the early European session largely due to the massive pullback in global equity markets, which favored the single currency. The EUR/USD currency pair’s rally was further boosted by President Donald Trump‘s criticism of the Fed’s monetary policy position, which also contributed to the greenback’s weakness.
The euro rallied today but trimmed its gains against some rivals, including the Japanese yen and the Great Britain pound. The currency kept gains versus the US dollar and the Swiss franc, though.
The Japanese yen was weak across the board today as markets calmed down and the sentiment stabilized, giving traders no incentive to buy safer currencies. Positive macroeconomic data did not help the currency.
The Japanese yen gained intraday on risk aversion but has trimmed its gains by now. Currently, the yen trades above the opening level against the US dollar, flat versus the euro, and below the opening against the Great Britain pound.
The euro today declined significantly against the US dollar as the US 10-year Treasury yields hit a 7-year high and investors reacted to the prospect of lower global economic growth. The tensions between Italy and the European Union regarding the latter’s budget plans also dragged the pair lower.
