Here is what you need to know on Friday, February 16: The US Dollar (USD) extended its downward correction following mixed data releases on Thursday, with the USD Index (DXY) losing 0.4% on the day.
Here is what you need to know on Friday, February 16: The US Dollar extended its downward correction following mixed data releases on Thursday, with the USD Index losing 0.4% on the day. The USD stays resilient against its rivals early Friday as focus shifts to January Producer Price Index data. Later in the American session, the University of Michigan will release the preliminary Consumer Sentiment Index for February. The US Census Bureau reported on Thursday that Retail Sales declined 0.
Pound Sterling failed to benefit from the upbeat data and GBP/USD was last seen fluctuating at around 1.2600. Bank of Japan Governor Kazuo Ueda said on Friday that they will examine whether to maintain various easing measures, including negative interest rate,when a sustained andstable achievement of the price target comes into sight. Ueda refrained from commenting on the short-term fluctuations in the forex markets and possible factors behind such moves.
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