Yen backs off two-week high
Yen fell off two-week highs against the dollar after North Korea opened the door for negotiating solutions with the US even after President Donald Trump canceled a June summit with Kim Jong Un.
USD/JPY fell to 109.56 from the opening of 109.24, with an intraday low at 109.10, and a high at 109.74.
After safe havens yen and Swiss frank marked good gains on Thursday on global political tensions, traders sold their holdings on Friday to collect profits before a long US weekend.
Trump has blamed "open hostility" from the North Korean side as cause for scraping the talks, while warning that the US army is ready in case North Korea committed any aggressive act.
Yen is still heading for a weekly profit nonetheless after eight long weeks of losses.
Forex and Currency News
Forex
Dollar rebounds ahead of US unemployment claims data
Dollar rose in European trade on Thursday against a basket of major rivals, resuming gains after a ...
Forex
Franc is best performing major currency after Swiss data
Swiss Franc rallied in European trade on Thursday, extending gains for the second straight day ...
Forex
Dollar parks at two-week highs ahead of Fed decisions
The dollar rose in European trade on Wednesday against a basket of major rivals, extending gains ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 02-05-2024
GBPUSD Trading Report The GBPUSD price shows weak trades since morning, settling above 1.2500$ ...
Forex
The EURUSD price forecast update - 02-05-2024
EURUSD Trading Report The EURUSD price continues to fluctuate around 1.0715$ level, and we still ...
Forex
The EURGBP tests key support – Forecast today – 2-5-2024
Expected Scenarios The EURGBP price formed many bearish trades recently, to test 38.2% ...