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Dollar weakens against yen and gains vs. euro

On Friday, the evergreen buck sagged against the Japanese yen, though it managed to gain against the common currency, following ongoing uncertainty as for the Brexit vote as well as gloomy Chinese manufacturing activity data, which powered safe-haven demand.   

The currency pair EUR/USD edged down 0.29%, trading at 1.1073.

Financial markets kept recovering from the UK’s shocking decision last week to escape from the European Union.

On Thursday, Mark Carney, BoE governor indicated on Thursday that more stimulus might be required over the summer, thus driving expectations for an upcoming rate decrease.

Meanwhile, market sentiment edged down after data revealed that Chinese Caixin manufacturing purchasing managers’ index sagged to 48.6 in June from 49.2 last month, compared to hopes for a downtick to 49.1.

Simultaneously, China’s official manufacturing PMI was 50.0 the previous month, compared to 50.1 in May. That’s quite in line with analysts’ expectations.

USD/JPY tumbled 0.48%, trading at 102.71.

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