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Dollar Rises Against Euro And Yen

Dollar Rises Against Euro And Yen

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Erik Holm - Head of media

The dollar is strengthening against the euro and the Japanese yen during the Asian trading session on Friday, market participants are waiting for the speech of the head of the Federal Reserve System (FRS) Jerome Powell in Jackson Hole. The euro is trading in the morning around $ 1.1068 against $ 1.1082 at the close of the last session.

The value of the single European currency against the yen in the region of 118.02 yen compared to 117.95 yen on Thursday. The dollar stands 106.63 against 106.44 yen. The ICE Index (NYSE: ICE) Dollar, which shows the value of the US dollar against six major world currencies, is growing at 0.18%. The WSJ Dollar indicator, which tracks the dynamics of the dollar against 16 major world currencies, is adding 0.1%.

The focus of the market is on the annual Jackson Hole Symposium, organized by the Federal Reserve Bank of Kansa City. Representatives of the world’s largest central banks, including Powell, who will deliver a speech on Friday, are expected to attend the event.

The protocol of the Fed meeting of July 30-31, published on Wednesday, showed that the leaders of the Federal Reserve, has decided to lower the rate by 25 basis points, refused any forecasting of further policy.