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Yen loses Ground Against US Dollar

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USD/JPY – The yen has lost ground against the dollar and is trading around 106.50. The dollar has seen some good gains in the wake of strengthening the American economy and the outlook for the possible rise in interest rates by the Fed. Whilst the slip of 25% of the value of the yen against the dollar the past two years has yet to restart exports and domestic production, the Japanese central bank and economic representatives have announced that seems to glimpse a light after a long period of crisis. According to the governor Kuroda inflation is a blessing since he expects an appreciation of wages leads to an increase in consumer prices and therefore to a possible improvement in the economic situation.

AUD/USD – The Australian dollar weakened during the Asian trading session and is trading around 0.9160 as consumer confidence fell in September by 4.6% reaching a total of 94.

USD/TRY – Turkish lira fell to its lowest in five months and is trading around 2.2000 while continue to decline both the equity that the bonds in the wake of the possible increase by the Fed of US interest rates sooner than expected , thereby decreasing the demand for Turkish stocks, the nation with the largest current account deficit.

Commodities

GOLD – is declining at an altitude of around 1255.00 in the wake of the hypothesis that the price will decrease again due to the strengthening of the US economy and prospects about a possible increase in borrowing costs.

CRUDE OIL – the price is bouncing during the Asian session and is trading around 93.00 after data on stocks in the United States have shown a significant decline over the last week.

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