US Dollar Rose Against Major Currencies

Market Reviews

The US dollar strengthened, as markets are awaiting Fed Chair Janet Yellen's speech on inflation and monetary policy at the National Association for Business and Economics in Cleveland. Waiting for details of the US President Donald Trump's tax plan also gives rise to the dollar. Republicans intend to promulgate the plan tomorrow.

The decline in the euro against major currencies is accelerating. Financial markets are looking through the temporary uncertainty over the German Chancellor's difficulty in forming a coalition.

Minutes of Bank of Japan July meeting showed that politicians agreed to adhere to the existing monetary policy. Meanwhile, the minutes said that most representatives of the bank shared the view that, the growth rate of inflation is accelerating and is likely to grow to 2% yoy.