Create Account

Yen on track for best January since 2018 

Loading exchange rates…

The Japanese Yen was poised for its strongest January performance since 2018 on Friday, driven by expectations of continued increases in Japanese interest rates.


Meanwhile, the Mexican Peso and Canadian Dollar remained steady as markets awaited US President Donald Trump's tariff deadline.


Trump has warned that 25% tariffs on imports from Mexico and Canada will take effect on Saturday unless the two nations take stronger measures to curb illegal migration and the flow of fentanyl into the US, Reuters reports.


The Canadian Dollar stood near a five-year low at C$1.4477 at the time of writing, facing a weekly decline of nearly 1%. Meanwhile, the Mexican Peso was rebounding from its sharp drop in the previous session, trading at 20.6643 per Dollar. Despite the recovery, it was still headed for its worst weekly performance since October, with a 1.85% decline.


“If (Trump) wants to talk tough, he's got to act tough as well, and that starts with actually announcing something concrete tomorrow,” stated Tony Sycamore, a market analyst at IG.


In Japan, the Yen weakened on Friday, slipping 0.34% to 154.84 after Bank of Japan Governor Kazuo Ueda stressed the need to maintain loose monetary policy to support a gradual rise in underlying inflation toward the 2% target.


Despite this dip, the Yen has gained over 0.7% for the week and is on track for a 1.6% monthly rise, its strongest January performance in seven years.


The Yen has gained momentum amid expectations of additional Bank of Japan rate hikes this year. On Thursday, Deputy Governor Ryozo Himino indicated that the central bank would continue raising rates if the economy and prices aligned with its projections.


Supporting this outlook, data released on Friday revealed Tokyo's core inflation rose to 2.5%, marking the fastest annual increase in nearly a year.


This week has seen turbulent market movements, especially in US technology stocks, leaving investors jittery as they brace for Saturday's looming tariff deadline.


“The Yen has had a relatively strong week, but we're not seeing that safe-haven reaction today, so that does probably tell us the market is a little bit more relaxed about it and the potential for what he might bring than it has been previously,” said City Index strategist, Fiona Cincotta.

Euro’s slide slows as French bond markets stabilise

The Euro was on track for a fifth consecutive weekly decline on Friday, although signs emerged that selling pressure was easing as France’s bond market stabilised and falling US Treasury yields tempered the Dollar’s rally.
Click here

Pound dips as markets await Bailey’s rate clues

The British Pound edged lower against both the US Dollar and Euro on Thursday, as investors awaited a speech by Bank of England Governor Andrew Bailey that could provide clues about the central bank’s next interest rate decision.
Click here

Dollar advances as oil tops $100 and Fed takes centre stage 

The US Dollar edged higher on Wednesday, supported by rising oil prices, as investors awaited the Federal Reserve’s meeting minutes and comments from policymakers for clues about the outlook for interest rates.
Click here

Euro rout deepens as France’s fiscal risks intensify

The Euro fell sharply on Monday to a 17-month low as mounting fiscal concerns in France, coupled with a severe sell-off in the bond market, raised fears of contagion across the region.
Click here

Greenback surges to 17-month high as bond selloff rattles Euro

The US Dollar was on track for a third consecutive weekly gain on Friday, supported by a global bond selloff fuelled by inflation concerns over higher oil prices and mounting worries about France’s fiscal position. Meanwhile, the Euro remained near a 17-month low.
Click here

Dollar hits fresh three-month high as yields support greenback

The US Dollar climbed to a more than three-month high on Thursday, underpinned by a sustained rise in US Treasury yields. The increase in yields has been partly fuelled by concerns that the US-Israeli conflict with Iran could keep global price pressures elevated.
Click here

create account

Corporate Client
Private Client

Contact Us

deVere FX Queries

6th Floor, ABSA house,
Ebene Cybercity,
Mauritius,

J. Balcikonio str. 9,
LT- 08314, Vilnius,
Lithuania,

media contact

About

deVere Group – Foreign Exchange’s Public Relations Department deals with all areas of the media and external communications including international, national, regional, local, trade, consumer, print, broadcast, social and online. The Department aims to provide a helpful service to journalists, broadcasters and editors, amongst others, and reply to all media enquiries, including urgent enquiries out of hours, within agreed deadlines.

Contact

Our press office does not have access to client details and will not be able to assist with individual client enquiries. Please contact deVere Group – Foreign Exchange’s Head of Public Relations on [email protected] or call +44 2071220925.

Enquiries

deVere FX Queries

6th Floor, ABSA house,
Ebene Cybercity,
Mauritius,
J. Balcikonio str. 9,
LT- 08314, Vilnius,
Lithuania,

media contact

About

deVere Group – Foreign Exchange’s Public Relations Department deals with all areas of the media and external communications including international, national, regional, local, trade, consumer, print, broadcast, social and online. The Department aims to provide a helpful service to journalists, broadcasters and editors, amongst others, and reply to all media enquiries, including urgent enquiries out of hours, within agreed deadlines.

Contact

Our press office does not have access to client details and will not be able to assist with individual client enquiries. Please contact deVere Group – Foreign Exchange’s Head of Public Relations on [email protected] or call +44 2071220925.