The dollar is trading at its strongest against the yen since August 2009 as America’s economy goes from strength to strength.
The dollar is trading at its strongest against the yen since August 2009 as America’s economy goes from strength to strength. The Dollar Index, DXY, is also at its highest in seven months just ahead of reports that are predicted to show the country’s retail sales grew last month. Today the dollar rose against a lot of its major peers as EUR/USD fell 0.10% and USD/JPY increased by 0.34%. This also comes after the Bank of Japan’s minutes yesterday signified continued easing. The report showed that next BOJ governor nominee Haruhiko Kuroda is set to implement further monetary easing even before the bank’s next policy meeting. Minutes from the meeting also showed that policymakers could consider bond purchases as another option for monetary easing. The British pound also lost a further 0.05% against the greenback. This is the fifth day that the pound has weakened versus the US dollar and data coming out later today will probably show a decrease in manufacturing activity in the UK. Data released earlier today showed UK house prices declining for a second month running, dropping to -6.