Forex Marketz Daily Forex News – Fully Markets Update
The dollar moved higher during Monday’s Asian trade hour. The buck is trading near a two month high against the Japanese yen. Traders were looking for clarity following The West’s military strikes on Syria. These strikes were carried out by the United States and its allies over the weekend.
The United States, France and Britain launched missiles targeting chemical weapons facilities in Syria on Saturday. This was in retaliation for a poison gas attack by the Assad regime on April 7.
Suggesting that the military action would not be a long one, President Donald Trump declared “mission accomplished,” via Twitter, after the strikes.
The U.S. currency unity rose against the yen after the military strike. The Japanese currency comes into demand during times of political tension and market turmoil. The yen is a perceived safe haven currency.
The USD/JPY Forex market was 0.2 percent higher. It was trading at 107.515 yen. This was above Friday’s high of 107.780 yen. The USD is at its highest price level since February 22.
Dollar and Yen Traders watch Prime Minister Abe Headlines
In Asian headlines, this morning, support for Prime Minister Abe, who is facing charges of cronyism and cover-ups, fell to 26.7 percent. This was in a survey by private broadcaster Nippon TV. It was released on Sunday. This is the lowest since Abe took office in December 2012.
The U.S. dollar index (.DYX), which measures the dollar against a basket of six Forex partners, was a shade higher. It was trading at 89.807.
The EUR/USD Forex market was flat at $1.2332. This comes after settling Friday flat.
The GBP/USD Forex market was at $1.4244. This comes after rising to a three month high at $1.4296 on Friday.
Traders are expecting a rate rise from the Bank of England next month. This has been a major driver of Pound’s gains over the recent days.
The AUD/USD Forex market was flat at $0.7770. The NZD/USD Forex market fell 0.05 percent to fetch $0.7348.
