Wednesday, 25 May 2016

XE Market Analysis: North America - May 25, 2016

The dollar traded mixed, gaining versus the yen, holding steady versus the euro, and losing ground to the Australian and New Zealand dollars. USD-JPY and EUR-JPY logged two-day highs, at 110.28 and 122.91 respectively. The Yomiuri reported that PM Abe will soon announce a delay in the planned sales tax rise, which is set for April next year. A risk-on mix of higher oil prices and rallying stock markets was also a driver of yen losses today, in accordance with the usual inverse correlative pattern.



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