Greenback soars further in Asia

On Monday, the evergreen buck kept rising in Asia against the Japanese yen and Aussie as remarks from Fed Chiar Janet Yelllen at the end of the previous week were considered to be consistent with earlier language suggesting that any rate lift would be data dependent with the US economy getting stronger and setting up nonfarm payrolls at the end of the week as key for the September gathering.

The currency pair USD/JPY traded at 102.10, rising 0.29%. Meanwhile, AUD/USD traded at 0.7551, tumbling 0.17%.

The US dollar index, traditionally estimating the greenback’s value against six major currencies, last traded down 0.02% being worth 95.46.

In China the USD/CNY sagged to its lowest value for a month as the Yuan traded approximately 6.6748 against the US dollar compared with the official closing price of 6.6688 on Friday, the weakest outcome since the official close of 6.6766 on July 26. At the weekend, China's National Development and Reform Commission stressed that the current bank deposit reserve ratio is extremely high and there’s significant room for long-term bond yields to drop. 

Scroll to top