US dollar softer with yen following the previous leap

Posted 29 March, 2018

 

The US dollar has trimmed previous gains vs the Japanese yen on Thursday. In the middle of the week, the greenback hiked in the pair driven by good economic performance in the USA and hopeful reports about progress in the relations with North Korea.

After the yesterday's leap, the US dollar decreased to 160.60 against the Japanese currency.

The US authorities announced yesterday the Q4 economic results with a 2.9% growth, which was well above the previous outlook. In this situation, the US dollar got good grounds for the rise.

Specifically, the released GDP figures made faster interest rate revision more real this year. For reference, US Federal Reserve raised the interest rate last week, though it still plans to change the rate three times this year rather than four times as the market anticipated.

The US Dollar index rose to 89.77.

At the same time, the euro to US dollar rate stands at some 1.2304. The European currencies are losing grounds on weak euro-area reports and support for soft monetary policy seen among the governing council members of European Central Bank.

The sterling dropped to 1.4048 against the greenback.

Besides, the US dollar also got support from the news that North Korea's Chief is ready for nuclear disarming. This gives reasons to believe that the world is on the brink of North Korea issue settlement.

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