The dollar is on the backfoot against the yen during the early part of Monday’s session, with the Japanese currency gaining almost 0.8% to the greenback. In light of the recent dynamic for this pair, the yen’s gains are remarkable. The dollar has been on a winning streak since the 10th of March, amassing gains of about 8.5% against the yen until the start of today’s session. The halting of the greenback’s gallop is, at least partially, the result of a coordinated move by the Fed and several other central banks around the globe to increase the liquidity of the American currency. Many of the recent dollar gains came from the difficulties many international businesses felt in finding sufficient quantities of the currency for payments, which was obviously pushing up the dollar’s value.
No comments:
Post a Comment