The Japanese Yen appreciated by around 0.3 percent yesterday taking cues from mixed global market sentiments, leading to rise in demand for the low yielding currency.
The Sterling Pound traded on a flat note yesterday on the back of strength in the DX. Also, mixed global market sentiments acted as negative factor.
However, positive housing data restricted fall in the Pound. The currency touched an intra-day high of 1.6068 and closed at 1.6036 on Thursday.
The Euro depreciated by more than 1 percent yesterday on the back of rise in inflation data from the region which led to expectations of cut in interest rates by the European Central Banks. Further, strength in the DX coupled with weak market sentiments in later part of the day added downside pressure on the currency. The Euro touched an intra-day low of 1.3574 and closed at 1.3582 on Thursday.
US Dollar Index
The US Dollar Index (DX) increased around 0.5 percent yesterday on the back of rise in risk aversion in market sentiments in later part of the trade. Further, expectations that Federal Reserve will began QE tapering as early as in its December monetary policy meeting supported upside in the currency. Additionally, decline in jobless claims also acted as a positive factor. The DX touched an intra-day high of and closed at 80.26 on Thursday.
READ MORE AT:
Today forex market technical report