US dollar even versus yen despite lack of new cues
July 24, 2014 7:50 am
The US dollar was almost even against the Japanese yen Thursday as investors hesitate to take firm positions given a lack of newest hints.
The greenback declined ¥101.45, previously ¥101.48 in New York.
Amid the absence of direct trading clues, geopolitical concerns in Ukraine still affect the minds of market participants. Pro-Russian rebels shot down two Ukrainian ground attack planes Wednesday near to a town where a Malaysian plane crashed last week.
Given the situation, the dollar-yen continued to stay in a close range and muted reaction to a larger than anticipated monthly trade deficit in Japan.
“An ordinary currency market pattern is buy or sell on expectations and then lock in profits after verifying the fact, but extremely low volatility in recent days has made jittery investors reluctant to take positions on expectations,” said Daisaku Ueno, Chief Forex Strategist at Mitsubishi UFJ Morgan Stanley Securities.
The material has been provided by InstaForex Company – www.instaforex.com
The US dollar was almost even against the Japanese yen Thursday as investors hesitate to take firm positions given a lack of newest hints.
The greenback declined ¥101.45, previously ¥101.48 in New York.
Amid the absence of direct trading clues, geopolitical concerns in Ukraine still affect the minds of market participants. Pro-Russian rebels shot down two Ukrainian ground attack planes Wednesday near to a town where a Malaysian plane crashed last week.
Given the situation, the dollar-yen continued to stay in a close range and muted reaction to a larger than anticipated monthly trade deficit in Japan.
“An ordinary currency market pattern is buy or sell on expectations and then lock in profits after verifying the fact, but extremely low volatility in recent days has made jittery investors reluctant to take positions on expectations,” said Daisaku Ueno, Chief Forex Strategist at Mitsubishi UFJ Morgan Stanley Securities.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: