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Yen Strong as Trade Wars Continue to Hurt Market Sentiment

The Japanese yen climbed against most major currencies today as the trade war between the United States and China continued to cause risk aversion on markets. Japan’s macroeconomic data was disappointing, but as it often happens, the currency paid little attention to domestic economic reports.

Chinese Yuan Slumps As FDI Slips, Housing Prices Lower Than Expected

The Chinese yuan is slumping against many major currencies at the end of the trading week. The yuan, which has plummeted in the wake of the escalation in the US-China trade war, rebounded on bullish economic data midweek but has since retreated on disappointing numbers.

NZ Dollar Fails to Hold Ground in Face of Risk Aversion

While the New Zealand dollar was attempting to rally earlier today despite risk aversion prevailing on the market, currently the kiwi has retreated, trading below the opening level against many of its most-traded rivals. Domestic macroeconomic data did nothing to help the currency of New Zealand.

Australian Dollar Gains on RBA Surprise, Trims Gains Later

The Australian dollar jumped today after the nation’s central bank surprised markets, keeping interest rates unchanged. The currency has trimmed its gains by now, though, losing them against the Japanese yen completely.

Euro Drops on Market Sentiment and Weak German Factory Data

The euro today fell against the US dollar as market risk sentiment remained subdued due to the uncertainty associated with the Sino-US trade negotiations. The EUR/USD currency pair also fell due to weak German factory data, which painted a gloomy picture of the eurozone’s largest economy, and the euro area at large.

Japanese Yen Surges As Manufacturing Returns to Expansion

The Japanese yen is roaring against several of its major currency rivals on Tuesday, buoyed by positive manufacturing numbers. But the gains were slightly capped on concerns over the intensifying trade war between the world’s two largest economies and what their fallout might mean for Tokyo.

Euro Range-Bound Despite the Release of Upbeat Eurozone Data

The euro today traded in a tight range against the US dollar despite the release of upbeat services PMI data from across the euro area by IHS Markit. The EUR/USD currency pair was weighed down by the risk-off market sentiment triggered by President Donald Trump‘s threat of additional tariffs on Chinese imports over the weekend.

Australian Dollar Recovers After Falling on Poor Data

The Australian dollar fell intraday but has recovered by now as markets were waiting for US nonfarm payrolls. Meanwhile, macroeconomic data in Australia was not good, which can explain the initial fall of the currency.

Euro Falls to New 3-Day Lows Against a Resurgent Dollar

The euro today fell to new 3-day lows against the resurgent US dollar as investors bought the world’s reserve currency with positive expectations. The EUR/USD currency pair extended yesterday’s fall, which was triggered by the FOMC‘s positive outlook for the US economy.

British Pound Drops Despite Balanced BoE Interest Rate Decision

The British pound today fell against the US dollar after the Bank of England left its monetary policy unchanged and exhibited confidence in Britain’s economy. The GBP/USD currency pair had rallied higher earlier today amid rumors that Theresa May was willing to relax her tough stand on a customs union with the EU in order to get her Brexit deal done.

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