US dollar progresses at Asian session

Posted 08 June, 2018

The US dollar has posted gains during the Asian session at the end of the week. However, the rate remains close to 3-week bottom after the recent weakening.

The US Dollar index rose to 93.55. 

The Japanese yen was under pressure from lower Q1 GDP in Japan (0.2% down). However, the market remains focused on the G7 summit to take place this weekend, as the meeting can light on the trade tensions between the White House and the rest of the world.

Despite some recovery this morning, the US Dollar index decreased from the last-week peak of 94.85 and reached some 93.50 at the today's trading. The greenback has been depressed this week by the euro, which is recovering after the settlement of the political issue in Italy.

At the same time, Japan has released the GDP data that turned out to be interesting enough. Specifically, GDP slowed down by 0.2% q-o-q (forecast – 0.1%), though business spending rose, which might support the economy in the future.

This week the G7 summit is in the spotlight, with the trade issues staying the urgent ones. 

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08 June, 2018 13:43

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