Yen rises against weaker dollar

2020-07-27 22:27:18 GMT (Economies.com)
Yen rises against weaker dollar

The Japanese yen rose on Monday, as the dollar US kept falling against most currencies and hit its 2-year low.

 

The dollar's slide came due to the US 10-year Treasury bonds yield's fall, and expectations for further quantitative easing by the Federal Reserve to ease the coronavirus impact on the economy.

 

The Federal Reserve will launch its regular meeting on Tuesday, to discuss monetary policy, with expectations of keeping the interest rate unchanged.

 

Data showed that Japan's industrial activity index fell 3.5% in June, on par with market's forecasts.

 

Otherwise, optimism took over global markets about an effective coronavirus vaccine coming down the pike in the next few months, as the US government has pumped millions of dollars in the ongoing trails for the vaccine that is being developed by Moderna.

 

As of 19:45 GMT, USD/JPY fell 0.6% to 105.4, after it hit a high of 106.1 and a low of 105.2.

 
 
 
  Symbol Last Change Chg.%
1.1673
-0.0097
0.8258%
1.2748
-0.0081
0.6314%
Tadawul
8236.17
-26.43
0.32%
23.199
-2.807
10.794%
40.285
0.094
0.234%
41.94
0.00
0.00%
1868.800
-46.725
2.439%
 
 
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