Dollar and yen are buoyant and the pound is collapsing
2019-05-17 10:46 am | Resource: News | No Views : 61
Major currencies diverged at the close of weekly trading on Friday as the yen rallied as demand for safe haven rallied, while the pound hit its lowest level in four months due to the berscht and the euro's divergence after the European data
Euro zone core inflation rises to 1.3%
A Eurostat review showed on Friday that core consumer prices in the euro area had a strong annualized momentum in April compared to the first estimate. Annual inflation excluding energy, food, alcohol and tobacco rose by 1.3 percent, or 0.1 percentage points, from only 0.8 percent in March. However, the monthly increase fell by 0.9% or 0.1 points below the flash figure.
Eurozone construction output fell by 0.3% in March
Seasonally adjusted output in the euro-zone construction sector fell by 0.3 percent in March from a month earlier, according to Eurostat's preliminary report on Friday. For the EU as a whole, construction production fell 0.7% from February. During the previous month, production in construction increased by 3.0% in the euro zone and by 2.6% in the 28-nation union.
Brexit talks between the Labor Party, the government officially ends
Labor leader Jeremy Corbin ended Britain's EU exit talks with the UK government, media reported on Friday. In a letter to UK Prime Minister Teresa Mae, Corbin said the negotiations would stop because of the "growing weakness and instability" of her government.
Corbin said talks on the UK's departure from the EU "went as far as possible." He said his political party would continue to oppose Britain's current exit package and advised May "once again" to test the will of the parliament. "Earlier in the day, the media reported that a joint draft law on withdrawal from the European Union had been removed amid a deadlock in the discussions.
The Japanese yen rose on Friday, drawing investors looking for a safe haven due to continuing concerns about trade tensions and impending European Parliament elections.
- The greenback rose 0.06% to trade at 97.89.
- The euro fell 0.03% against the dollar at the same time, to record levels of $ 1.11698.
- GBP / USD fell 0.35% during morning trade to settle at 1.2757.
- The greenback was down against the yen at 0.16% with the dollar trading at 109.66.
- The Swiss Franc rose against the US dollar to trade the dollar at 1.01052.
- Against the Canadian dollar, the greenback was down 0.23% at 1.3488.
We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…
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