Home Forex Yen Holds Onto Gains, Aussie Slips, Euro Falls

Yen Holds Onto Gains, Aussie Slips, Euro Falls

Exchange rating. Currency sign yen and dollar.

The yen saw slight gains on Friday after PPI data showed a better-than-expected pickup.

PPI data from Japan showed a 4.2% decline year-on-year in May, but climbed 0.2% month-on-month, beating expectations.

Meanwhile, the Australian dollar slipped, with AUD/USD down 0.27% at 0.7410.

USD/JPY was down 0.07% at 107.01.

In Europe, the euro fell sharply against the dollar, erasing its gains from the previous session as George Soros and Mario Draghi expressed concerns over the euro zone’s economy.

The euro was trading between 1.1305 and 1.1416 before holding steady at 1.1318. Despite a month of volatile trading, the euro is up 1% against the dollar and has remained above 1.13 for six consecutive sessions.

During his speech in Brussels on Thursday, Draghi criticized politicians in the euro zone for slowing economic reforms while pursuing their own political agendas. Draghi said the European Central Bank is doing the majority of the work, while political leaders have offered little help in enacting appropriate fiscal policies.

“There are many understandable political reasons to delay structural reform but there are few, very few, good economic ones,” said Draghi. The ECB president said the costs of delay are “simply too high.”

Mario Draghi’s comments come just days after the ECB initiated a corporate bond program, the bank’s latest tool to help bolster low inflation. The corporate bonds will be limited to just investment-grade securities, the ECB says. The central bank is expected to release a list of corporations participating in the scheme next month.

The euro was also hurt by comments from investor George Soros, who cited a number of concerns impacting the current outlook for the global economy, including the migration crisis in the euro zone and the potential for the U.K. to leave the European Union after the referendum in two weeks.

After Soros’s comments, investors turned to safe-havens, like the Japanese yen and gold.

Previous articleAussie, Sterling Lower on Mixed Chinese Data and Brexit Concerns
Next articleDollar Little Changed, Bitcoin Soars to $700
 Jacob Maslow offers clients effective digital marketing insights that enhance website visibility and improve SEO as an online marketing consultant at Consultwebs. His approach marries creativity to numbers to show significant ROI for marketing efforts. This Brooklyn native has spent years helping skilled professionals, including medical and legal professionals rank for relevant search terms. Clients attain their marketing objectives with Maslow. He has helped boutique law practices in crowded markets rank No. 1 in Google ranking. His efforts doubled the revenue for Allergy Be Gone's non-Amazon sales to $4 million annually. SEO ranking and revenue growth are prioritized when Maslow consults with prospects and long-term clients. Maslow has over a decade of experience implementing SEO practices and running successful marketing campaigns. In addition to working with clients in various fields, but often with those in legal, financial and medical areas, he is an author, offering his expertise to those seeking to improve their engagement with online audiences. Read what Maslow has to share with eager audiences on business.com and business2community.com, including recent articles: "4 Mistakes You Can Correct Today to Be a Social Media Superstar" and "6 Things SEO Can't Do for Your Business." Maslow puts his connections to work for clients. He founded many news sites including: Forex Binary News; eThailand; Key Investing; Rapid News Network and StreetWise Journal. Jacob Maslow stays busy as owner of Legal Scoops, Daily Forex Report, Investing Alerts and bestportablechargerz. Feel free to seek his advice on Facebook, Quora and Slideshare or contact Jacob Maslow directly.