Today, there are no significant changes in the course of the greenback in relation to the euro and the yen.
The rate of the euro this morning amounted to 1.1213 dollars. Recall that the previous trading day closed at around 1.1218 dollars per euro. Yen against the euro was at around 120.06 yen per euro, while yesterday's rate was around 120.25 yen per euro.
In the morning, the course of the greenback was at 107.07 yen per dollar. Yesterday's trading closed at 107.19 yen per dollar.
The dollar index against the basket of six major world currencies (ICE Dollar) fell slightly today by 0.08%. Yesterday, the indicator managed to return almost all of the part that was lost during the week. The reason for yesterday's positive was the growing concern of market participants regarding the second wave of the pandemic.
The US dollar is also supported by rhetoric, reflecting the impossibility of a rapid economic recovery amid the growing incidence of coronavirus and the return of restrictive quarantine measures, which are likely to be needed to contain the wave of infections.
In this regard, the authorities in Texas already announced that the removal of the quarantine measures is suspended indefinitely due to the tense epidemiological situation. This decision was made due to a sharp increase in the number of cases this week. It is noted that there is no plan to return to full quarantine, which was in the spring of this year.
Another important news for the foreign exchange market was a statement by the Chairman of the Bank of Japan, who stated that the main regulator intends to continue a soft stimulating policy that favorably affects the pace of economic recovery after the coronavirus pandemic. In the end, the Bank of Japan should return to its inflation target of around 2%.
The pound sterling also remained almost unchanged against the US dollar this morning with a rate of 1.2418 dollars per pound. Yesterday, it stopped at around 1.2419 dollars per pound. It also moved a little in relation to the euro. Today, the pound was trading in the region of 1.1074 euros against yesterday's value of 1.1072 euros.
The main news that could change the balance of power in the foreign exchange market next week will come from the next round of the negotiation process between the UK and the EU. Recall that the parties can not agree on a trade agreement. According to recent reports, London did not express a particular desire to extend its EU membership, which will finally come to an end on December 31, 2020.
Meanwhile, the Chinese yuan is also marking time. The rate for today was 7.0784 yuan per dollar, and yesterday's level was at around 7.0782 yuan per dollar. Here, the main news was the signing by the US Senate of a bill by which the country could introduce sanctions against China. This also applies to Chinese officials who passed the Hong Kong National Security Bill.
The aussie, on the other hand, gradually won back its lost positions in relation to the greenback. Today its rate was 0.6884 aussie per dollar, and yesterday it was at 0.6887 aussie per dollar. The country also saw an increase in the number of COVID-19 patients, which forced the authorities to hold a meeting on further actions in this direction. Its results will be announced today.
Thus, the aussie did not feel any pressure from the outside today, however, support factors were also not found.
