Market News

The Japanese Yen was mired close to a 2-month trough versus its main rival, the U.S. Dollar, following comments made by Japan’s Finance Minister who said that currency intervention must be included as one of the government’s policy tools.

Market players are once again revisiting the likelihood that the U.S. Federal Reserve will maintain the status quo as regards QE tapering.

The U.S. Dollar was boosted up to a 2-month high versus the Japanese Yen as market players begin to reassess the Federal Reserve’s likely position regarding QE tapering given last week’s unexpectedly strong outcome of U.S. labor data.

Following last week’s heavy selloff, the Euro managed to hold onto recent gains during the Asian trading session though investors continue to curtail their bearish positions.

The U.S. Dollar got a well-received boost following Friday’s release of surprisingly upbeat labor data from the U.S. Department of Labor which revived investor expectations that the Fed might reconsider tapering its QE program in December.

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The Euro struggled to gain traction during the Asian trading session in the wake of the surprise decision by the European Central Bank while the greenback’s gains were kept to a minimum as investors await the release later today of the all-important private sector payrolls data.

The common currency was trading close to a 1-week peak versus the U.S. Dollar and the Japanese Yen following the release of better than expected data from Germany which briefly tamped down investors’ expectations of an ECB rate cut.

The U.S. Dollar edged higher in the Asian session following the release of better than expected economic data which led to increased speculation that the Fed might rethink the timing of its QE tapering scheme.

The Euro held onto recently earned gains during the Asian trading session but as speculation that the European Central Bank might lower interest rates later this week, analysts expect that Euro demand will wane.

The Euro earlier struck a 6-week trough as investors speculate that the European Central Bank might be force to take immediate action to prevent the Eurozone economy from further deterioration.

The Euro fell close to a 2-week trough during the Friday trading session in Asia after an unexpected drop in inflation numbers revived speculation that the European Central Bank might see their way clear to taking on additional stimulus measures in order to give the Eurozone economy a boost.

The U.S. Dollar Index remained close to a 2-week peak following the Federal Reserve Bank’s interest rate and policy decisions which were largely anticipated by market players and analysts.

The U.S. Dollar Index edged up to a briefly strike a 1-week peak as investors await the Fed’s decision regarding monetary policy and QE tapering.

As the October policy meeting gets ready to begin in the U.S. for the Federal Reserve Bank, investors are cautiously awaiting confirmation of their expectations that the central bank intends to sideline the notion of any tapering of its current bond purchase program.