Japanese Yen holds near 40-year low amid Fed-BoJ rate gap

Japanese Yen holds near 40-year low amid Fed-BoJ rate gap

The USD/JPY pair edges lower on Friday as bulls turn cautious in anticipation of a potential government intervention to prop up the Japanese Yen (JPY). Nevertheless, spot prices remain within striking distance of the four-decade high, touched on Thursday, and the 164.00 mark amid a supportive fundamental backdrop. A stark contrast in monetary policy between […]

British Pound remains depressed near 1.3300 despite upbeat UK Retail Sales data

British Pound remains depressed near 1.3300 despite upbeat UK Retail Sales data

The British Pound (GBP) remains pinned near three-week lows against the US Dollar (USD) on Friday, trading near 1.3300 and on track for a 1% weekly decline. The upbeat UK Retail Sales data seen earlier on Friday has failed to lift the Pound, weighed heavily by risk-averse markets and increasing fiscal concerns in the UK. […]

United States Dollar Index holds gains near 101.50 on revival of hawkish Fed bets

United States Dollar Index holds gains near 101.50 on revival of hawkish Fed bets

The US Dollar (USD) clings to the previous day’s gains in the Asian session on Friday, as surging oil prices due to intensified Middle East energy supply risks have revived Federal Reserve (Fed) interest rate hike expectations. At press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades […]