Resilient US Dollar Impacts Yen as Australian Dollar Slumps
On Thursday, the U.S. dollar's persistent strength drove the yen further towards a zone that might warrant intervention. This movement was driven by the robust state of the U.S. economy, which highlighted the necessity for maintaining higher interest rates for an extended period. This stood in contrast to the considerably dovish stance of the Bank of Japan.
In response to unexpected data that indicated a decline in Australia's employment figures for July and an uptick in the jobless rate, the Australian dollar plummeted to a nine-month low. The New Zealand dollar experienced a similar downturn in tandem with its Australian counterpart.
The yen, represented by USDJPY, saw its value weaken to 146.565 per dollar, reaching its lowest level since November. This decline was influenced by the ongoing disparity in interest rates between the United States and Japan's ultra-low rate environment. The currency last registered at 146.37 per dollar.
GBPUSD BUY LIMIT 1.2680 - 1.2710 🔼🔼
✔️TP1: 1.2730
✔️TP2:1.2750
🚫 SL 1.2650
In response to unexpected data that indicated a decline in Australia's employment figures for July and an uptick in the jobless rate, the Australian dollar plummeted to a nine-month low. The New Zealand dollar experienced a similar downturn in tandem with its Australian counterpart.
The yen, represented by USDJPY, saw its value weaken to 146.565 per dollar, reaching its lowest level since November. This decline was influenced by the ongoing disparity in interest rates between the United States and Japan's ultra-low rate environment. The currency last registered at 146.37 per dollar.
GBPUSD BUY LIMIT 1.2680 - 1.2710 🔼🔼
✔️TP1: 1.2730
✔️TP2:1.2750
🚫 SL 1.2650
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