The Japanese yen gained against 13 of its major peers, following a report which showed the nation’s economic growth slowed down surprisingly. A dollar benchmark dropped to a two-month low, stretching its two-week decrease, as traders analyzed whether weaker US economic report will urge the Federal Reserve to reckon a slower pace in cutting down stimulus.
The Fed will release minutes of its last gathering on February 19. The Australian dollar gained after it reported a record new credit last month in China, the South Pacific nation’s largest trading partner. The Korean won became stronger.
The yen increased 0.3% to 101.53 per dollar as of 10:34 a.m. (Tokyo time) from February 14, prolonging last week’s 0.5% acceleration. It reinforced 0.1% to 139.30 per euro. The shared currency profited 0.2% to $1.3720, the most since January 24.
US markets will be closed today for a public holiday. Meanwhile, Japan’s gross domestic product enlarged at a 1% pace in the last three months of 2013, lower than its 1.1% increment in the preceding quarter, the Cabinet Office noted today. Yellen reported her first public remarks as Fed chief last week, as policy makers push to gradually scale back the unprecedented bond-buying program she assisted put in place. She reiterated the central bank’s outlook for additional reductions in calculated steps and asset purchases are not on a preset course.
The material has been provided by InstaForex Company – www.instaforex.com
The Japanese yen gained against 13 of its major peers, following a report which showed the nation’s economic growth slowed down surprisingly. A dollar benchmark dropped to a two-month low, stretching its two-week decrease, as traders analyzed whether weaker US economic report will urge the Federal Reserve to reckon a slower pace in cutting down stimulus.
The Fed will release minutes of its last gathering on February 19. The Australian dollar gained after it reported a record new credit last month in China, the South Pacific nation’s largest trading partner. The Korean won became stronger.
The yen increased 0.3% to 101.53 per dollar as of 10:34 a.m. (Tokyo time) from February 14, prolonging last week’s 0.5% acceleration. It reinforced 0.1% to 139.30 per euro. The shared currency profited 0.2% to $1.3720, the most since January 24.
US markets will be closed today for a public holiday. Meanwhile, Japan’s gross domestic product enlarged at a 1% pace in the last three months of 2013, lower than its 1.1% increment in the preceding quarter, the Cabinet Office noted today. Yellen reported her first public remarks as Fed chief last week, as policy makers push to gradually scale back the unprecedented bond-buying program she assisted put in place. She reiterated the central bank’s outlook for additional reductions in calculated steps and asset purchases are not on a preset course.
The material has been provided by InstaForex Company – www.instaforex.com
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