Forex

American dollar slipped to its yearly minimums against the Japanese yen

By Forex-Metal

Asian and European trading sessions:

Euro: The EUR/USD pair traded in the range of $1,3200-$1,3240.

US Dollar: The released yesterday US statistics and the negative forecasts for the US fundamentals to be published increased speculations for the slow-down of the American economy rehabilitation rate. Therefore, according to the experts’ opinion, the FRS might introduce additional measures aimed to stabilize the economy.

British Pound: The GBP/USD pair traded around $1,5910-$1,5970.

But the European trading session saw the change in the sterling direction. The pound slipped to a low of $1.5891 mark. At the same time the monthly Halifax house price for July increased for 0.6%, while the forecast showed decline for 0.3%. On the other hand, the purchasing manager index dropped below the expectations (53.1 against the forecasted level of 54.5 and 54.4 for the previous month). The outlook for the future growth was considered to be “uncertain”. 

Japanese Yen: The Japanese yen was supported as a safe haven currency on the back of the negative US data. The American dollar dropped to its yearly minimums of Y85.32 against the yen. 

Oil: The oil prices continued to stabilize around its maximums at $82.10 per barrel.

American trading session:

US Dollar: The release of the optimistic US fundamentals during the American trading session rendered support to the greenback. In particular, the ADP employment for July grew for 42K, when the forecasted growth was at the level of 33K.  The ISM non-manufacturing composite index also increased to 54.3 while the predictions were at the level of 53.0.