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USD/JPY falls off three-month high as dollar rebounds

Economies.com
2020-05-22 06:07AM UTC

USD/JPY tilted lower in Asian trade off April 13 highs following earlier data from Japan and an emergency BoJ policy meeting, and amid a lack of data from the US. 

 

As of 06:03 GMT, USD/JPY fell 0.15% to 107.45, with an intraday low at 107.41. 

 

Earlier Japanese data showed consumer prices rose 0.1% compared to a 0.4$ rise in March, while core prices fell 0.2%. 

 

Bank of Japan held an emergency meeting on May 22, maintaining rates at negative 10% as expected while also maintaining 10-year government bond yield targets at zero. 

 

The BoJ has launched a new lending program to support medium and small countries suffering from the Covid 19 hit. 

 

The Bank of also accelerate purchases of 6-month corporate bonds until the end of the year, with total measures taking against Covid 19 amounting to 75 trillion yen so far. 

 

According to World Health Organization data, cases of the Covid 19 reached 5.107 million worldwide, with the death toll standing at 333,000. 

US stocks close lower, give up earlier gains

Economies.com
2020-05-21 23:33PM UTC

The major US stock indices closed lower on Thursday, to give up the earlier gains, on concerns over a renewed US-China trade war.

 

The Donald Trump administration has accused China of mishandling the coronavirus outbreak, blaming it for the global pandemic.

 

The US Senate today passed a bill that would prevent Chinese companies from listing their shares for public offering on the US stock exchanges.

 

The US Department of Labor revealed that the US unemployment claims fell to 2.43 million in the past week, while the total number of unemployed people was at 38.6 million in 9 weeks.

 

West Texas Intermediate crude rose 1.3% to close at $33.9 a barrel, after it hit a day high of $34.6 and a low of $33.2.

 

Brent crude climbed 0.9% to $36.06 a barrel, with a high of $36.9 and a low of $35.7.

 

As for stocks, Dow Jones fell 0.4% or 369 points to close at 24,474, after it hit a day high 24,718 and a low 24,370.

 

Nasdaq fell 0.9% or 91 points to 9,285 points, with a high of 9,405 and a low of 9,254.

 

S&P 500 fell 0.7% or 23 points to 2,948 points, with a high of 2,978 and a low of 2,938.

Silver closes 4% lower, falls below $18/oz

Economies.com
2020-05-21 23:01PM UTC

Silver fell on Thursday, for the first time in several sessions, as the US dollar rose against most currencies, despite a drop in stock markets and concerns over a renewed US-China trade war. 

 

The Donald Trump administration continued to accuse China of mishandling the coronavirus outbreak and blaming it for the global pandemic and the death of hundreds of thousands of victims and infecting five million others.

 

The US Senate today passed a bill that would prevent Chinese companies from listing their shares for public offering on the US stock exchanges.

 

The dollar index rose against a basket of currencies by 0.2% to 99.3 points as of 22:49 GMT, after it hit a high of 99.5 and a low of 99.02.

 

Silver July futures fell 3.7% or 66.7 cents to close at $17.364 an ounce, after hitting a day high of $17.475 and a low of $17.43.

British pound slips against US dollar

Economies.com
2020-05-21 20:17PM UTC

The British pound fell against the US dollar on Thursday, amid uncertainty over the Brexit file and the coronavirus crisis.

 

The UK's chief Brexit negotiator David Frost, said that the Brexit talks with the EU were moving slow with little progress after the Brexit in January 31.

 

Analysts interpreted these comments as a first step to pressure the EU to agree on London's demands for flexible relations after the Brexit.

 

Otherwise, the Prime Minister Boris Johnson's government is fighting the coronavirus pandemic and its impact on the economy and citizens.

 

As of 20:14 GMT, GBP/USD fell 0.2% to 1.2218, after the pair hit a high of 1.225 and a low of 1.2185.

Frequently asked questions

What is the price of USD/JPY today?

The price of USD/JPY is $147.42 (2025-07-11 22:35PM UTC)