Commodity News
HeadLine : Yen gains as weak U.S. data, economic uncertainty dim outlook
Date : Sep 18 2020
The safe-haven yen rose to a seven-week high against the dollar and a 1-1/2-month peak versus the euro, amid another batch of generally weak U.S. data and overall uncertainty about the economic outlook, backing the Federal Reserve's concern on Wednesday about the pace of recovery. The dollar index rose to a one-week high, but was last little changed on the day, as risk appetite diminished. Shares on Wall Street were lower and U.S. Treasuries were fairly well-supported. At Wednesday's policy meeting, the Fed pledged to keep rates near zero until the labor market reaches "maximum employment" and inflation is on track to "moderately exceed" the 2% target, with most policymakers seeing rates on hold through at least 2023. U.S. jobless claims remained elevated at 860,000, while both housing starts and the Philadelphia Fed
business index fell. The dollar index, a measure of its value against six major rivals, was last little changed at 93.12, but hit a one-week high earlier in the session. 

Source : Reuters
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