The U.S. dollar stabilized in early European trade Friday - GEPL Capital
News / Other data
* The yen fell more than 1% against the dollar on Friday after the Bank of Japan bucked the trend among other major central banks and stuck with ultra-low interest rates, while the greenback firmed after U.S. data showed inflation was still running hot.
* The Mexican peso could close 2023 at 19.00 vs the U.S. dollar, Barclays (LON:BARC) analysts said on Friday, citing well-financed public accounts, appropriate actions taken by the country's central bank and benefits from nearshoring.
* The rouble strengthened on Friday, hovering between 61 and 62 to the dollar and showing limited reaction to the central bank's decision to leave interest rates unchanged as expected, while Russian stocks climbed to a more than one-month high.
* Japanese Prime Minister Fumio Kishida said on Friday the government is ready to take appropriate action against excessive volatility in the currency market.
* The U.S. dollar stabilized in early European trade Friday ahead of the release of key inflation data, while the Japanese yen edged lower after the Bank of Japan on Friday maintained its ultra-low interest rates and dovish stance.
* China’s yuan lagged gains in its Asian peers on Friday as the country introduced new COVID lockdown measures, while the yen saw volatile trade amid dovish signals from the Bank of Japan (BoJ).
Data inference
* Actual greater than 'Forecast' is good for currency
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory