The US dollar erased its gains versus the Japanese yen yesterday and continued the decline today. The greenback was soft against the euro on yesterday’s trading session, but gained at the beginning of today’s trading session.
The dollar was soft amid good news from Europe and China. The data positive data from the United States also damped demand for the safety of the US currency. All in all, the outlook for the global economy has become brighter and traders preferred currencies with higher yield.
The Greek debt remains a bullish factor for the greenback in the long run. Sure, investors are currently optimistic for Greece. But how many times European leaders will meet without any noticeable result before traders feel disappointment again?
EUR/USD was down from 1.2880 to 1.2871 as of 00:37 GMT today, while yesterday it touched 1.2898 — the highest level since November 2. USD/JPY decline from 82.45 to 82.28 today after rallying to 82.82 yesterday — the highest price since April 4.
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