Euro Falls Against Dollar, Yen Weakens
ICM Brokers | Aug 31, 2015 04:47AM ET
EUR/USD
The euro fell against the dollar on Friday after a senior Federal Reserve policymaker indicated that the central bank could still raise short-term interest rates next month. The dollar was boosted after Fed Vice Chairman Stanley Fischer said it was still too early to determine whether to raise short-term interest rates from near zero, where they have been held since December 2008, at the bank’s September meeting. The dollar had weakened as fears over a slowdown in growth in China roiled global markets, with equities and commodities the hardest hit. Fears over China also prompted investors to push back expectations on the timing of an initial rate hike by the Fed.
GBP/USD
The pound was little changed against the dollar in late trading on Friday, after falling to almost two-month lows earlier in the session after comments by a senior Federal Reserve official kept the door open for a rate hike next month. The dollar found support after Fed Vice Chairman Stanley Fischer said it was still too early to determine whether to raise short-term interest rates from near zero, where they have been held since December 2008, at the bank’s September meeting. In the U.K., data on Friday confirmed that gross domestic product expanded 0.7% in the second quarter, unchanged from an initial estimate, but up from 0.4% in the three months to March.
USD/JPY
The Japanese yen held weaker ahead of a deluge of end of the month data Friday that will set the tone. In Japan, July national CPI, the unemployment rate and household spending are all due. National core CPI is seen down 0.2% year-on-year in July, while unemployment is seen steady at 3.4% and retail sales up 1.1% and household spending increased 1.3%.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.