- The Japanese yen fell to six-year lows against the U.S dollar on Thursday. Expectation that the US Federal Reserve may raise interest rates continued to rally the dollar against the yen, as the Bank of Japan has made it clear that it will continue to boost their economy with a looser monetary policy stance. Looking back on the week, official data showed that Japan’s second quarter economic contraction was greater than was expected, while a second report stated that the country’s current account surplus fell short of expectations.
- Yesterday saw the Australian dollar steady against its US counterpart. Thursday’s release of strong employment data saw the Aussie dollr strengthen, trading above the six-month lows that we saw on Wednesday. The official report from the Australian Bureau of Statistics showed that the country’s economy added 121,000 jobs last month, beating expectations for an increase of 12,000.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.