Forex – dollar mixed as the yen and the pound are making progress


© Reuters.

Investing.com – The u.s. dollar was mixed against the other major currencies on Wednesday, while the yen gained ground due to geopolitical tensions and that the pound sterling has advanced, investors are anticipating a delay of Brexit.

The USD / JPY was down 0.12% to 110,43 to 03h34 ET (08h34 GMT) after touching a low at 110,36 during the night.

The yen has recovered its force when tensions between India and Pakistan have intensified after Pakistan said it had shot down two planes indians on their border.

The pound sterling was trading near the top of the previous session of five months, the GBP / USD advancing 0.18% to 1,3273.

The pound sterling has made a rally Tuesday after the british Prime minister, Theresa May, has offered the legislators the opportunity to vote on a report of a Brexit, thus opening the possibility of avoiding “Brexit” without an agreement.

The british currency is trading near the highest in 21 months against the euro, with EUR / GBP down 0.24% at 0,8576.

The euro rose slightly against the dollar, with the EUR / USD to 1,1391.

The dollar index against a basket of six major currencies was $ 95,843, after having lost 0.42 per cent on Tuesday, to 95,81, its lowest level since February 6.

The decline of the us dollar came after the federal Reserve chairman, Jerome Powell, has reiterated that the central bank remains patient in the face of monetary policy and the pound sterling grows strong.

Powell said Tuesday that the increase of risks and confidential data recent does not prevent this probably not a solid growth of the u.s. economy this year, but that the Fed would be “patient” in its decision to raise interest rates.

“The fall of the dollar has been a bit confusing because the comments of Powell did not offer new ideas. But the market was in a state where the dollar was sensitive to factors downside potential, and the strong pound weighed in as well,” said Masafumi Yamamoto, chief strategist of forex at Mizuho Securities.

– Reuters contributed to this report

Like this post? Please share to your friends:
Leave a Reply