USD Strengthened Against The Japanese Yen After Fed Statement
ICM Brokers | Dec 18, 2014 02:03AM ET
EUR/USD
The euro slid as investors flocked to safe-haven dollar positions on Wednesday after the Federal Reserve's statement regarding the interest rate hike is on its way next year. The Federal Reserve is not seen raising interest rates until 2015, but many investors bet Wednesday's statement will clash language suggesting that the borrowing costs will remain low for a considerable amount of time, which gave the greenback support. In the economic news, the statistical office of the European Union, reported earlier that consumer price inflation in the euro zone fell 0.2% in November, in line with market expectations, after a flat reading in October.
GBP/USD
The pound slid against the dollar on Wednesday after investors remained camped out in greenback decisions of the release of the Federal Reserve's statement on monetary policy, which indicated that interest rate hike is on its way next year. The pound pared losses against the U.S. dollar after data showed that the U.K. claimant count change fell more than anticipated last month, while the unemployment rate remained unexpectedly unchanged in in the three months to October. Meanwhile, the U.K. Office for National Statistics reported that the unemployment rate held steady at 6.0% in the three months to October, compared to expectations for a tick down to 5.9%. The number of people in the U.K. claiming unemployment benefits fell by 26,900 last month, compared to expectations for a decline of 21,200.
USD/JPY
The US dollar strengthened against the Japanese yen after the Federal Open Market Committee Statement indicated that interest rate hike is on its way next year, which sent US dollar up against its major forex peers. In Japan, the imports dropped 1.7% in November from the year before to ¥7.08 trillion, declining for the first time in three months as crude oil prices plunged across the globe, government data showed Wednesday. The balance in goods trade remained in the red for the 29th straight month. The trade data for November showed a deficit of ¥891.9 billion, narrower than the ¥1.001 trillion expected.
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.