The euro today fell against the US dollar for the third consecutive session as investors trimmed their expectations of a massive rate cut by the Fed boosting the greenback. The EUR/USD currency pair was also affected by market expectations of the announcement of further monetary easing policies by the ECB later this week.
The Japanese yen is softening to kick off the trading week after investors learned very little from a much-anticipated speech by the head of the Bank of Japan (BOJ). On Monday, central bank governor Haruhiko Kuroda disappointed investors when he said any monetary policy moves will depend on the performance of the national economy and global markets. Still, most economists believe the next move for the BOJ will be additional easing.
The Japanese yen was generally soft today, though the currency has trimmed losses against some of its rivals by now and even managed to gain on the euro, which itself was very vulnerable. Domestic macroeconomic data, which demonstrated weakening economic activity in Japan, was unfavorable to the yen.
The euro today fell aggressively against the US dollar reversing most of yesterday’s gains after the New York Federal Reserve rushed to clarify dovish comments made by its President John Williams. The EUR/USD currency pair was also pressured by the weak German producer data released earlier today as well as the resurgent greenback.
The euro today fell from its daily highs against the US dollar as markets reacted to news that the European Central Bank was considering a different approach to meet its inflation target. The EUR/USD currency pair later recovered given that the greenback was also under significant selling pressure as markets continue to price in a Fed rate cut on July 31.
The Japanese yen was mixed today after Fitch Rating maintained Japan’s sovereign credit rating. The forecasts made by the agency were not all good, though.
The euro today attempted to rally against the US dollar from the Asian session but encountered massive resistance despite the release of upbeat euro area inflation data. The EUR/USD currency pair could not muster enough momentum to mount a sustained rally as each attempt was quickly countered by a retracement as the bears stepped in.
The euro today rallied against the US dollar in the Asian session before falling during the European session after the release of weak German data. The EUR/USD currency pair later rallied in the American session following the release of mixed US factory data.
The euro today rallied higher in the Asian session as investors reacted to Jerome Powell‘s dovish comments during his testimony before Congress. The EUR/USD currency pair later fell from its daily highs in the American session following the release of upbeat US inflation data.
The Japanese yen is strengthening against several currencies on Thursday, despite plenty of weak data suggesting that the world’s third-largest economy could be cooling down. The yen might be gaining steam on two things: expectations that the central bank could follow the Federal Reserve’s lead and slash interest rates or breathe a sigh of relief that the US and China have renewed trade talks.
