© Reuters. The dollar is advancing against the yen after the meeting Trump-Kim
Investing.com – The dollar rose against the yen on Tuesday after the historic summit in Singapore where the american president Donald Trump and the north Korean leader Kim Jong One is committed to work for the denuclearization of the Korean peninsula.
The USD / JPY was up 0.21% to 110.27 at 03:56 AM (07:56 AM GMT), near a high of 110.48, reached on may 23.
The market sentiment was reinforced after that Trump has said that the denuclearization process would happen very, very quickly, adding that he had formed a “special bond” with Kim and that the relationship with North Korea would now be very different.
The two leaders are expected to hold a press conference later in the day.
The euro has slightly increased compared to the lowest price reached during the night, with the EUR / USD at 1.1794.
The single currency remained supported after Italy was assured on Monday that she would not leave the european Union.
The demand for the single currency was also supported before the meeting of the european central Bank on Thursday, during which the bank should share its intentions to begin reducing the bond purchase program.
The financial markets are anticipating also the meeting of the federal Reserve on Wednesday, during which officials expect that the interest rates rise for the second time this year.
With a rate increase almost in full, the markets are focused on the question of whether the Fed will hint at the prospect of four rate hikes this year.
The Bank of Japan should also meet later this week and is expected to maintain the monetary policy outstanding at the end of its meeting Friday.
The dollar index, which measures the strength of the dollar against a basket of six major currencies, was little changed at 93,53.
The book has grown, with GBP / USD rising 0.14% to 1,3400, in view of the latest report on jobs in the United Kingdom later in the day.
The United States should publish figures on inflation which should show that the cost of living has continued to accelerate last month.