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The EUR/USD pair tumbled to 1.1569 on Friday, propelling the US dollar to a two-month high. The rally comes as investors retreat from both the euro and the yen, which have lost their appeal. The yen has depreciated roughly 4.0% against the dollar since Sanae Takaichi won the race to become Japan’s next prime minister. […]
The post EUR/USD Plummets as Investors Shun Risk appeared first on Action Forex.
There’s no specific details on what the visit will comprise of and why he is set to spend almost a week in the US, with the BOJ policy meeting looming just around the corner. It is also being reported that BOJ deputy governor Himino is set to meet with finance officials in Washington.
This is all certainly interesting with Ueda perhaps wanting to get a better feel of how things are developing in the US. That especially as the motivations for a BOJ rate hike are now challenged strongly by Sanae Takaichi’s win at the LDP leadership election, even if she is not yet officially appointed as prime minister.
This article was written by Justin Low at investinglive.com.
The buying has been unrelenting since September and after a “setback” yesterday, precious metals are once again finding dip buyers in trading today. Gold is now up 0.1% to $3,978 after having fallen to a low of $3,947 earlier in the day. The near-term chart still presents some challenge for dip buyers as seen here. But for silver, we’re seeing price jump up by more than 3% as we look for clearance above $50.
Both precious metals are poised to make it eight straight weeks of gains and for silver, that will be the hottest streak since 2020. A weekly break above $50 will send a strong technical message in breaking the potential double top formation near $50 as set out from the 2011 high. Going beyond which, the sky’s the limit.
This article was written by Justin Low at investinglive.com.
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