Monday, 21 August 2017

What’s next? – USDJPY 21.08.17

Posted by Valentine at 12:08 Labels:

USDJPY

The dollar/yen was down 0.19 percent as of 08:50 GMT on Monday to trade at 108.99, as the greenback remained under pressure due to Washington’s latest scandal.

Several CEOs integrating Trump’s business councils left their jobs following the president’s controversial remarks on the Charlottesville’s violent incidents.

The Republican leader said white supremacist groups were not entirely responsible for incidents, but also were human rights activists.

On Friday, the University of Michigan said consumer expectations for August rose to 89.0, above an initially estimated 81.0 reading. The consumer sentiment index came in at 97.6, also beating a forecasted 94.0 reading.

There are no relevant reports scheduled for today. Attention this week will be directed to the Federal Reserve Jackson Hole symposium, which gathers central bank leaders from around the globe. However, key policy announcements are not to be expected.

Tensions between Trump and business leaders played out negatively for the US dollar, which drop across the board on Friday and extended losses in Asian hours today.

The US dollar index, which tracks the greenback against a basket of six major rivals, was trading at 93.43 by the time of this writing.

The geopolitical crisis in the Korean peninsula also worsened during the weekend, as Kim Jong-un’s government threatened with a “merciless strike” as the US and South Korea begin war games in the region.

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