Most major currency pairs were confined to narrow ranges and volume was lighter than usual with most Asian and European markets closed. Trading resumed in the United States after markets were shut on Thursday for the Christmas holiday. The Dollar rose against the Yen on Friday after data showed sharp declines in Japan's industrial output and inflation fueled speculation the Bank of Japan would pump large amounts of cash into the economy. However, the Dollar fell against the Euro as trading thinned out ahead of the year end. The Euro also advanced against the Yen. The single euro zone currency was supported by expectations that the European Central Bank will lower interest rates further from the current 2.5%, but at a slower pace.
On Friday, UsdJpy was 0.42% higher at 90.80. EurUsd was 0.18% lower at 1.4025 after trading as high as 1.4119. EurJpy rose 0.64% to 127.43. EurGbp also rose to a fresh high at 0.9618 or +1.18%. UsdChf was 0.35% lower at 1.0701. GbpUsd dropped 0.85% to 1.4618.
Last week, EurUsd rose 0.8% to 1.4025. EurJpy rose 2.5% to 127.43. UsdJpy was 1.62% higher at 90.80. UsdChf dropped 3.04% to 1.0701 and GbpUsd went 2.08% lower at 1.4618.
Government data on Friday showed Japan's industrial production dived a record 8.1% while annual core consumer inflation slowed sharply, to 1% in November, underscoring fears the world's second-largest economy could sink back into deflation next year. Bank of Japan policy board member Hidetoshi Kamezaki said on Thursday that the bank should consider ways to influence longer-term interest rates and corporate debt products if more easing steps are needed. The Bank of Japan 2 weeks ago lowered interest rates close to zero, mirroring steps by the US Federal Reserve, and moved to pump funds into the market to ease a corporate credit crunch.
0 komentar
Post a Comment