Yen and euro down against US dollar

Posted 13 July, 2018

The Japanese yen is losing grounds against the US dollar on Friday, falling down to almost half-year bottom. 

For now, the stock market upturn bolsters demand for the risk, though the US-China trade conflict persists. The yen weakening is reportedly explained by the fact that the fruits from safe-haven status are gradually fading away. 

Today, the US dollar-to-yen exchange rate was recorded at 112.72 (112.55 earlier). It is worth mentioning that the rate hit its 6-months peak of 112.77 earlier during the trading. 

The European currency weakened against the greenback to some 1.1662 (1.1672 earlier). The euro-to-yen rate stands at some 131.07, while the previous session was closed at 131.36.

The yuan got stronger against the US dollar reaching 6.6656 (6.6678 a day before).

According to the economic reports, CPI in the USA hiked to 2.9% y-o-y in June. This means that the annual inflation rate was expectedly the highest since 2012.

Experts mostly believe that inflation will gather pace in the USA, especially on the back of good labour market performance as well as higher import duties. The US Federal Reserve has made already two revisions of the interest rate since the start of 2018.

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13 July, 2018 14:02

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