Greenback soars to eight-month peak versus yen
On Friday, the greenback ascended to an 8-month peak against the Japanese yen, as American bond yields resumed their soar in Asia after the Thanksgiving break shut markets in America.
The greenback ascended 0.3%, being worth 113.710 yen, having hit an 8-month peak of 113.900 yen. It was on track to ascend 2.5% on the week.
The common currency rose 0.1%, reaching $1.0558 just to put a bit of distance between $1.0518, its lowest result since March achieved in the previous day. The euro was poised for a 0.3% weekly loss.
Market participants keep expecting the greenback to adjust lower during its bull phase, though it has not happened yet, because there hasn’t been any real opportunity for selling to take hold.
Emerging market equities as well as currencies have been heavily affected by the specter of higher American interest rates and also the prospect of American trade protectionism that President-elect Donald Trump had already advocated.