The dollar held close to the peak of three and a half months against the yen on Friday after rising last night, caused by the growth of the markets bets for the US economy and the rise in interest rates during the presidency of Donald Trump.
By 5.30 GMT the dollar fell slightly to 106.63 yen after rising to 106.950 yen at night - a maximum of 21 July.
The dollar is preparing to finish the week woth 3.3 percent growth against the Japanese yen, although earlier it was believed that the safe yen would gain against dollar in case of Trump's victory on presidential election in the United States.
The dollar on Wednesday briefly fell to around 101 yen after the Republican defeated Democratic candidate Hillary Clinton.
Now, however, the dollar demonstrates rally amid risk aversion and US bonds yields rise due to expectations that the Trump policy will support costs and accelerate inflation.
Trump promised large-scale of tax cuts and developing of infrastructure that can increase the US budget deficit.
Mexican peso stood at the level of 20.55 to the dollar, close to the record low reached on Wednesday.
The euro traded near $1.0906 after losing 1 percent last night and preparing to show a drop by 2.3 percent for the week.
The dollar has not changed to a safe Swiss franc, holding at a level of 0.9860 after falling to near three-month low of 0.9550 on Wednesday.
Sterling held position against the dollar, trading just below the monthly peak of $1.2585, reached on Thursday.
No comments:
Post a Comment