Dollar stable against euro and rising against yen

Dollar stable against the euro and rising against the yen

On Friday, the dollar remained stable against the euro and rising against the yen as markets assess the comments European Central Bank President Mario Draghi, while sentiment on the Japanese currency remained fragile.

The EUR / USD was trading at 1.1294.

Euro played losses Thursday after a meeting on the results of the ECB Mario Draghi said the bank is ready to use “all available tools”, including further reduction in the interest rate, to return inflation to its target.

Draghi also noted that the risks to the economy of the eurozone “skewed to the deterioration of the situation” and warned of a possible deflation in the coming months. However, the head of the bank confirmed that the ECB remains confident that inflation will return back to the target level of just below 2%.

The comments came after the ECB kept interest rates at a record low 0.0%, in line with expectations.

USD / JPY pair rose by 0.77% to 110.31, the highest since April 6.

The yen remained under pressure amid speculation that the Bank of Japan may announce further measures to ease monetary policy at the meeting next week.

On Wednesday, the head of the Bank of Japan Haruhiko Kuroda reiterated that he was ready loosen monetary policy to achieve the inflation target.

Meanwhile, investors remain focused on the oil market since Friday, oil prices held near five-month highs.

USD index, which indicates the ratio of the dollar to a basket of major currencies, was steady at 94.63.

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