The US currency weakened against the yen on Friday amid falling expectations of higher interest rates iz- for a series of weak economic data.
Virtually all of the major currencies traded in narrow range - investors were frozen in anticipation of central bank meetings in the US and Japan.
Virtually all of the major currencies traded in narrow range - investors were frozen in anticipation of central bank meetings in the US and Japan.
The cost of the dollar fell 0.1% to 102.02 against the yen. Since the beginning of the week the currency has weakened by 0.7%. Demand for safe assets increased against the background of low probability for elevated key interest rate the Fed meeting which will be held September 20-21.
Published on Thursday, data showed that retail sales in the US fell more than expected in August on weak purchases of cars and other goods.
To date, the financial markets assess the probability of 12% increase in rates this month. Before the release of the report, the figure was 15%, according to the tool CME FedWatch.
At its meeting next week, the Bank of Japan is expected to undertake a review of the current policy, which combines the negative interest rates and large-scale asset purchase program.
Other currencies
The euro was almost unchanged against the US dollar, trading near the 1.1240 mark.
The Australian dollar has appreciated by 0.1% to 0.7520 against the US dollar, after rising by 0.7% on Thursday.Earlier this week, "Aussie" hit a 7-week low at 0.7443. Strengthening the currency caused by rising prices for commodities such as copper and oil.
Based on materials WELTRADE
