Foreign exchange market: scattered order of currencies : Orishas-finance

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Foreign exchange market: scattered order of currencies

14/06/2024

Source : ORISHAS-FINANCE

Categories: Economy/Forex

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Foreign exchange market: scattered order of currencies

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At the end of this week, the yen fell after the Bank of Japan's Dovish position. The Russian ruble is mixed and Australian

and New Zealand dollars plunged.

The yen was a bit weaker at 157.08 per dollar and was on track for a marginal weekly loss of around 0.2%, even though the movements were largely subdued before the conclusion of the two-day monetary policy meeting of the BoJ later on Friday.

It fell to its lowest level in over a month on Friday, after the Bank of Japan (BOJ) held rates and said it would cut back on bond purchases in the future, while the euro, mired in political turmoil, headed for a weekly loss.

The Russian ruble was split across various trading markets on Friday, after US sanctions against the Moscow Stock Exchange caused confusion in Russian financial markets and continued to limit access to reliable data.

On the interbank market, where liquidity may be low and where major Russian banks sanctioned by the United States cannot participate, the ruble traded at 89.20 against one dollar at 07:41 GMT.

Australian and New Zealand dollars plunged on Friday against the safe haven US dollar as risk aversion swept European markets, although it also propelled the antipodes to multi-month highs on a struggling euro.

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