Forex

The Bank of Japan lowered the forecast of the economic growth for next year

By Forex-Metal

Asian and European trading sessions:

Euro: The euro stepped back from the three-week highs. The investors and traders were taken profits on their opened before positions on Euro currency. Moreover, many market participants took cautious positions and did not want to open any long positions on Euro currency against the background of the prolonged negotiations on Greek debt. The EUR /USD pair traded in a range of $1.2953 to $1.3061.

US Dollar: The investors' attentions today were pointed towards the started today two-day meeting of the Federal Open Market Committee of US. The trading dynamics of U.S. dollar were positively affected by the growing demand for safe haven assets against the background of the negative dynamics on the main European stock exchanges.

British Pound: The GBP/USD pair traded today in uptrend range of $1.5533- $1.5591 during both sessions and recorded its European trading session’s maximum by reaching the level of $1.5597.

American trading session:

Japanese Yen: The yen fell against almost all of its major competitors after the Bank of Japan lowered the forecast of the economic growth for next year.

British Pound: The Pound rose against most traded currencies after the report which showed that the budget deficit in December fell more than expected.

Oil: The cost of March’s WTI futures dropped to 98.28 dollars per barrel.

Gold: Gold prices also fell. The cost of the February gold futures on COMEX today dropped to 1661.07 dollars per ounce.