Greenback stays on defensive vs. yen
On Thursday, the evergreen buck hit a two-week minimum against its key Japanese counterpart, being weighed down by everlasting uncertainty over whether the American Fed is going to lift interest rates in the nearer future or not.
The greenback edged down 0.4% to 109.07 yen. The US dollar hit a minimum of 108.825 at one point, which is down 2.4% from a one-month peak of 111.455 yen achieved on Monday.
Worries regarding whether the UK will support its current membership in the EU or not a bit later this month attracted traders to the Japanese yen, while the greenback was heavily hampered by uncertainly as for the US interest rates.
While the American ISM numbers were pretty good yesterday, there's uncertainty over whether there’s going to be an interest rate lift in June.
Wednesday’s data demonstrated that in May, American manufacturing soared for a third straight month, though factories took fewer deliveries from their suppliers, and this could hamper production in the nearer future.