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Main » 2016 » August » 17 » Following statements by Fed officials dollar strengthened against the yen
Following statements by Fed officials dollar strengthened against the yen



The dollar recovered from a 7-week low against the yen on Wednesday, after the statements of officials of the Federal Reserve to raise rates in the near future.



The US currency  strengthened by 0.8% to 101,100 Japanese yen. During the previous trading session, the dollar fell to 99,550, the lowest value since June 24, when the unexpected decision of Great Britain caused turmoil in global financial markets and the increased demand for safe haven yen.

The cost of the euro fell by 0.2% to 1.1261 against the US dollar after rising to the highest level since June 24 at 1.1323 a day earlier.

The currency gained support after President Federal Reserve Bank of Atlanta Dennis Lockhart that this year there are two interest rate rises. On Tuesday, the head of the Federal Reserve Bank of New York William Dudley also said that the US central bank may raise the federal funds rate in September.

The dollar index rose 0.3% to 95,025, after falling by 0.8% on Tuesday.


Other currencies


After reaching a 31-year low earlier in the week, the pound sterling is trading almost unchanged at 1.3028 against the US currency.

The Canadian dollar  weakened against its US counterpart to 1.2882, touching a 7-week high of 1.2798 on Tuesday.

The Australian dollar  lost 0.4% of its value, trading near 0.7663. New Zealand's currency has fallen in price by 0.3% to 0.7252.




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