US dollar generally firm with some weakening against yen

Posted 02 October, 2018

The US dollar generally shows firm positions vs the majors on Tuesday. However, the currency slackened against the Japanese yen and is no longer at 10-month peak as the risk demand weakened after the new trade deal with Canada and Mexico.

The US Dollar index moved up to 95.19 this morning, though earlier it was recorded at 95.373.

Following the new trade deal, the yen lost grounds falling even to 114, which is close to the lowest level of last November.

For now, the US dollar stands at 113.78 against the yen, which is near the yesterday's rates.

As for the euro, it decreased to $1.1538 driven by persisting budget issue in Italy. Specifically, Italy's deputy prime minister Luigi Di Maio stated yesterday that the EU officials deliberately make negative statements regarding Italian budget striving to affect financial markets.

The US dollar-to-Canadian dollar exchange rate was at CAD 1.2804 following the yesterday's strengthening. For reference, the USA and Canada managed to come to terms regarding the new trade deal last weekend. As a result, the USA, Mexico and Canada entered into a trilateral agreement to replace NAFTA.

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