The US dollar tumbled against the Japanese yen Friday following news that US President Barack Obama authorized air strikes in Iraq agitated the simmering geopolitical upheaval and soften risk appetite.
In an address, Obama said he permitted targeted strikes to safeguard the Yazidi minority and US personnel in Iraq following the country’s government sought help.
“Risk assets and dollar/yen are being sold after news of the airstrike. There was already talk of the air strike (authority being granted) overnight and now that it has been confirmed, the market is trying to digest it,” said a trader at a huge Japanese bank.
Against the yen, the greenback dropped 0.3% to ¥101.79, declining as low as ¥101.58 in a two-week trough.
The greenback had already sustained losses overnight on woes over the escalating conflict in Ukraine and Russia imposed ban on Western food imports.
The material has been provided by InstaForex Company – www.instaforex.com
The US dollar tumbled against the Japanese yen Friday following news that US President Barack Obama authorized air strikes in Iraq agitated the simmering geopolitical upheaval and soften risk appetite.
In an address, Obama said he permitted targeted strikes to safeguard the Yazidi minority and US personnel in Iraq following the country’s government sought help.
“Risk assets and dollar/yen are being sold after news of the airstrike. There was already talk of the air strike (authority being granted) overnight and now that it has been confirmed, the market is trying to digest it,” said a trader at a huge Japanese bank.
Against the yen, the greenback dropped 0.3% to ¥101.79, declining as low as ¥101.58 in a two-week trough.
The greenback had already sustained losses overnight on woes over the escalating conflict in Ukraine and Russia imposed ban on Western food imports.
The material has been provided by InstaForex Company – www.instaforex.com
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