Dollar Plunges Further As Trump-Biden Heads Into Debate, Yen Tags Along Weaker

Dollar Plunges Further As Trump-Biden Heads Into Debate, Yen Tags Along Weaker

The dollar is generally falling today, partly due to late-month flows and partly due to a position adjustment ahead of the first one-on-one presidential debate between Donald Trump and Joe Biden.

However, the Yen and the Canadian dollar are slightly weaker.
On the other hand, the Aussie and Kiwi are gaining momentum for a strong rebound. There is practically no trading on the stock markets.

The resurgence of coronavirus infections in Europe has brought daily cases in the Netherlands to record levels. The total number of deaths also exceeded the “painful milestone” – a million. But the immune system of traders is already set against … the news of the pandemic.

However, the Yen as a whole is trading slightly weaker, followed by the Canadian dollar and the dollar. Australian and Kiwi are more resilient with Sterling. In particular, the pound maintains yesterday’s growth and will expect further growth due to the development of the situation around Brexit. The dollar, on the other hand, will consider comments from a group of Fed policymakers.
Bank of Japan (BoJ) Says the Economy May Not Recover Significantly
The Consolidation of Views at a meeting of the Bank of Japan on September 16-17 noted that a “significant recovery” of the Japanese economy is “unlikely.” Domestic demand, mainly for service consumption, is “likely to remain low” due to the pandemic. Some sectors saw a “clear V-shaped recovery”, but the recovery in demand “still does not represent other sectors”.

The annual consumer price index “is likely to be negative for the time being” and is expected to “turn positive and then gradually rise as the economy improves.” So far, “deflationary pricing” for customer retention has “not been widely observed.”

In terms of monetary policy, there is a need to focus on supporting corporate finance and maintaining employment. If the economic recovery is delayed, the potential growth rate of the Japanese economy may be slowed by an increase in the number of bankruptcies and unemployment, as well as the functioning of financial intermediation may deteriorate, reflecting the materialization of credit risk.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
Share with other traders!

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.