Published: Tue, July 11, 2017
Entertaiment | By Lawrence Myers

Dollar Climbs To Two-Month High Vs Yen

Dollar Climbs To Two-Month High Vs Yen

Asian stocks rallied on Monday, lifted by Wall Street's strong performance on Friday, while the USA dollar extended gains made after much stronger than expected June employment data.

For now, unease about an end to an era of ultra-cheap money gave way to optimism about the global growth outlook, with Friday's stronger-than-expected U.S. non-farm payrolls report helping to bolster risk appetite.

Asian stocks rose this morning thanks to a strong Wall Street performance at the end of last week, while the USA dollar extended gains made after much stronger than expected June employment data.

MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.4% while Japan's Nikkei rose 0.7%.

Stock futures in the US for Monday were up, suggesting shares on Wall Street will open higher and extend gains that were made following the release last Friday of the jobs report by the Labor Department.

"So while it may not be coordinated communication, I do think there's been a change in rhetoric from central banks across the world - though the ECB is the central bank to watch in the second half of the year".

Liverpool sign Dominic Solanke from Chelsea: Ace speaks out over deal
Solanke has been a prolific goalscorer throughout Chelsea's youth ranks having been at the club from Under-8 level. Liverpool have officially confirmed the signing of striker Dominic Solanke from Chelsea .


Based on the minutes of the last Federal Open Market Committee (FOMC) released on July 5, Yellen may testify that the Fed will seek to reduce the central bank's Treasury bond holdings and mortgage-backed securities by August, effectively tightening the supply of USA dollars.

On Friday, Wall Street closed higher after United States jobs growth beat forecasts.

USA job growth surged more than expected in June and employers increased hours for workers, signs of labor market strength that could keep the Fed on course for a third interest rate hike this year despite sluggish wage gains.

"Normalisation of monetary policy in the coming months is nearly priced in, and the Fed will start shrinking its balance sheet in September, and this does not necessarily mean a delay of rate hikes", said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.

The dollar steadied notably during early Asian trading on Monday after positive jobs data released on Friday supported continued policy tightening by the Federal Reserve including another interest rate hike later in the year.

The euro was fractionally lower at $1.1402 this morning, extending Friday's 0.1% decline.

Country star Maren Morris engaged to Ryan Hurd
Morris was equally excited about the news, which came just hours after announcing her engagement to singer/songwriter Ryan Hurd . Hurd shared a picture of the couple on a boat and noted that he popped the question a few days earlier, on July 3.


The G-20 meeting over this past weekend in Hamburg, Germany did not create any significant impact on Monday's financial markets.

In commodities markets, oil crept higher on Monday after sliding on Friday on a report showing USA crude production rose last week, just as OPEC exports hit a 2017 high, rekindling concerns about a supply glut.

Global benchmark Brent advanced 0.8 per cent to $47.07, following Friday's 2.9 per cent slide.

Bond markets, hit hard by jitters about tighter central bank policies in the past two weeks, were stable on Monday.

The ten-year US Treasury yield hit a two-month high of 2.398% on Friday.

Newsletter has been successfully subscribed.

Audio From Airport Incident
The audio, which you can listen to in full above, starts off with El Patron telling someone, possibly Paige , to "call the cops". At the time, TMZ said there was "lots of speculation" about Alberto's story and noted there was "no confirmation from police".


Like this: