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14 February 2020

Asian session review: the yen rose against the euro and the US dollar

Time Country Event Period Previous value Forecast Actual
04:30 Japan Tertiary Industry Index December 1.4% -0.2%
07:00 Germany GDP (QoQ) Quarter IV 0.2% 0.1% 0%
07:00 Germany GDP (YoY) Quarter IV 0.6% 0.4% 0.4%
07:30 Switzerland Producer & Import Prices, y/y January -1.7% -1%

The US dollar on Friday rose to the highest in more than two years against the euro on a new wave of concerns about the spread of a new type of coronavirus in China. The yen has risen against most currencies.

According to experts, the economic impact of the epidemic on the United States will be less significant compared to European countries, which increases the attractiveness of American assets.

"Europe and especially Germany have very strong trade links with Asian markets, particularly China," said Mazen Issa, senior currency analyst at TD Securities.

The ICE Dollar index, which shows the value of the US dollar against six major world currencies, rose 0.03% from the previous day.

The pound rose slightly. Yesterday it was announced that the new British Finance Minister will be chief Secretary to the Treasury Rishi Sunak, who will replace the resigned Sajid Javid.

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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