Japanese Yen and Swiss Franc Remain the Strongest Major Currencies
The Japanese yen and the Swiss franc remain the strongest major currencies today, as tensions between the US and North Korea affect the state of the markets. Global stock markets are falling against the backdrop of geopolitical instability. The stock index of Japan Nikkei fell by 1.29%. The main European indices also weakened significantly. The FTSE decreased by 0.8%, the DAX - by 1.5%, and the CAC - by 1.8%.
Data on China's inflation and trade were volatile in July. It is expected, that in the second half of the year, GDP growth will slow down. Nevertheless, given the strong performance in the first half of the year, when the economy increased by 6.9% in both the first and second quarters, GDP growth should be able to meet government's target of around 6.5%.