The Dollar rises against the Yen

The United States dollar rose briefly against the Yen after hitting a bottom of 102 last afternoon. The upward course of the dollar was helped by the fact that the chairman of the Federal Reserve Janet Yellen refused to criticize Japan for its expansionary monetary policy which has led to a severe depreciation of the Japanese currency. This comes as a surprise due to the fact that some members of the House of Representatives have pushed Yellen to introduce some criticism for Japan’s unprecedented monetary easing program on the next…

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When forecasting Emerging Market currencies moves look at US Data

forecasting usd

After Wednesday when the US Federal reserve abstained from pulling back its financial stimulus program, the performance of the dollar against emerging currencies will be tied more than ever before to the upcoming US economic data. Now currencies most sensitive to a reduction in Federal Reserve asset purchases such as emerging-market currencies, will rely heavily on upcoming U.S data, said Steven Englander, global head of G10 FX strategy at Citi, in an interview. After the decision of the Federal Reserve various emerging market currencies such as the Indian Rupee, the…

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Dollar tumbles as uncertainty grows

The disappointing jobs report, that  was release on Friday has built up a lot of uncertainty on the currency markets which has led the Dollar down against its major rivals- the Yen, and the Euro. Earlier during the week the Dollar managed to reach 100 Yen which is an important psychological level, but did not hold the gains due to the increased volatility on the international markets. That was caused by the concerns for war in Syria and the fear that the Federal reserve may start tapering its 80 billion-per-month…

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