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Thursday 5 May 2016

The yen was losing ground against the US dollar, the Australian dollar is growing

Yen is showing signs of fatigue on Thursday, retreating from recent highs, while the dollar is supported by optimistic expectations that the US economy could bounce back after losing pace in the first quarter.
By 7.00 GMT the dollar gained 0.01 percent against the yen to 107.02 yen, moving away from a minimum of 18 months to 105.55 yen reached on Tuesday. Euro grew to 122.90 yen from Friday's figure of 121.665 yen - a minimum of three years.
The Australian dollar rose against the US dollar, gaining 0.5 percent to $0.7499 due to strong economic data, in particular, retail sales in March.
The euro rose against the dollar by 0.01 percent to $1.1486, while continuing to strengthen after reaching a peak of eight months at $1.1616 earlier this week.



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