Breaking News

Yen surges to fresh three-week high as dollar widens losses

News Date: 2/8/2016 05:07:42
Yen jumped to a fresh three-week high against the dollar while the Nikkei index gave up heavy losses as investors doubt the latest government stimulus will prop up the morbid economy as world's growth slows down.

Yen last traded at 101.67 against the dollar, up a healthy 0.73% on the day, and after hitting a three-week high at 101.47, while Japan's Nikkei tumbles 244 points, or 1.47% to 16,391.

The dollar index, which tracks the greenback's performance against an array of six major counterparts, slid 0.41% to 95.36, almost touching a new three-week trough, while giving up 0.35% against the euro to 1.1202.

Crude prices tries to recover some of their recent hefty losses, with Brent futures up a meager 13 cents, or 0.31% to $42.27 a barrel, while U.S. crude futures added just seven cents, or 0.16% to $40.12 a barrel.

Investors await a basket of U.S. data later today, with personal spending expected to have risen 0.3% m/m in June, slowing down from May's 0.4% rise.

U.S. personal income on the other hand is forecast to have risen 0.3% m/m in June, accelerating from May's 0.2% rise, which would present a mixed bag for the greenback.

Latest news

The number of global Coronavirus infections is increasing at an unexpected speed, and German Chancellor Angela Merkel said yesterday that the pace of new infections is advancing day after day, and at
11-2020 17 08:37:57

Japanese stock indices closed lower today, due to undermining investor sentiment for fear of a rise in Corona cases, and the Nikkei index fell by 0.53% to 25385.87 points, and over the course of a we
11-2020 13 05:10:43

The US dollar manage this morning, to achieve progress during the trading session, as the « safe currency » rose by 0.04% to indicate 93.073, and the dollar fell against the Japanese yen
11-2020 12 08:11:42

Trump is still trying to raise the curtain on the corruption – as he claims – which was defined by the polling process in the last major US election that was sorted by Democrat Joe Biden,
11-2020 11 08:58:20

Most of the global markets rebounded on Monday, right after the opening of the weekly trading session, after Democrat Joe Biden won the US presidential elections, and both stocks and commodities rebo
11-2020 10 09:23:45

More News