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12.02.2018

USD loses achievement, CNY retreated from peaks

USD loses achievement, CNY retreated from peaks

Moving in the morning during the Asian trading session without a clear direction, the US dollar lost some of the achievements gained last week relative to Asian currencies after a slight pullback in the US stock market on Friday.

The Chinese yuan also slipped from the highest for many years levels relative to the US dollar, beginning the week with a fall. On Friday, China will start a week-long celebration of the Chinese New Year.

The dollar began a week of growth against some Asian currencies. In particular, it strengthened relative to the Japanese yen. USD / JPY was trading at 108.69, having fallen by 0.09%. USD / AUD has returned to the level of the beginning of trading, having fallen a little earlier today.

In Japan, there were reports that indicate that Haruhiko Kuroda could be appointed chairman of the Bank of Japan for another five-year period after his term expires in April. Because of these rumors, it is expected that the monetary policy of the Bank of Japan will continue to be ultra-soft, which may limit the strengthening of the yen.

The People's Bank of China set the reference rate of the yuan at 6,3001 after 6,3194 on Friday. The Yuan can trade with reference to the reference rate, deviating from it by no more than 2% in one direction or another.

Foto: © Reuters. USD has lost some of the achievements gained last week relative to Asian currencies

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