Greenback holds steady against euro and yen
On Friday, the greenback stood still against other key currencies because market participants were still cautious ahead of Janet Yellen’s speech due later this day and amid surging expectations for an upcoming US rate lift.
The currency pair EUR/USD didn’t change a lot, sticking to 1.1196.
Market participants were keeping an eye open on the issue of American economic growth data, not to mention Janet Yellen’s comments due later this day. Besides this, they’re also interested in the timing of approaching rate hikes.
The evergreen buck reported steep revenues earlier this week amid hopes for the Fed to boost interest rates in the nearer future after the Fed’s April gathering flagged a probable rate lift in case of the reviving economy.
The currency pair USD/JPY also stood still at 109.71.
Official data states that in May Japanese consumer price index sank by an annualized rate of 0.5%, compared to hopes for a 0.4% sag. As for core CPI, excluding fresh food, it also dropped by 0.5 last month.