[ad_1]
© Reuters.
By Peter Nurse
Investing.com – The US dollar gains positions at the start of trading in Europe this Thursday, with buyers returning ahead of next week’s Federal Reserve meeting, while the yen struggles to hold onto earnings of the previous day.
At 8:50 AM ET, the , which tracks this currency against a basket of six other majors, is up 0.2% at 109.593, not far off two-decade highs recorded in 110.79.
Attention is now turning to next week’s meeting, with traders expecting the US central bank to be even more aggressive next week in its battle to curb inflation, following Tuesday’s price report. to consumption.
The pair rose 0.4% to the 143.64 level, recovering after falling 1% in the previous day after news that the Bank of Japan had consulted the exchange rates with banks.
This is a throwback to the period in the 1990s when Japanese intervention in the forex market occurred, when “checking rates” meant that the Bank of Japan intervention desk asked traders for direct prices before the intervention. “, adds ING (AS:).
However, the Japanese authorities did not take any concrete action and with the Bank of Japan unlikely to raise rates this year and data released on Wednesday showing a record Japanese trade deficit in August, the sale of bonds has resumed. yen
Elsewhere, the pair is down 0.2% to the 0.9960 level, trading below parity despite the European Central Bank’s historic rally last week.
The region continues to struggle to deal with an energy crisis that shows no signs of calming down, and the bloc’s executive Wednesday’s proposal to impose unforeseen levies on energy companies to protect consumers from rising prices is unlikely to of energy solves the immediate supply problem.
The pair is down 0.2% to the level of 1.1513, and the meeting of the , initially scheduled for this day, has been postponed to next week after the death of Queen Elizabeth II.
UK consumer confidence has entered negative territory for the first time since the pandemic lockdown in mid-2020; market research company YouGov has reported that its sentiment reading fell 4.2 points to 98.8 in August.
The pair rose 0.1% to the 0.6754 level after news that Australian employment rebounded in August after the previous month’s surprise drop, while the index rose 0.1% to 6.9701 , as the Chinese government struggles to shore up economic growth after a series of confinement measures imposed due to COVID.
[ad_2]