The dollar moved higher against the yen on Thursday as late gains in Chinese stocks bolstered investor sentiment and dampened demand for the safe-haven yen.
Brent crude climbed by more than $1 a barrel on Thursday on an unexpected fall in U.S. crude inventories and a rally in global equity markets, but a stronger dollar capped gains.
Two things that have supported U.S. stocks in the past, dovish words from the Federal Reserve and improving economic data, triggered the biggest rally since 2011 and halted a plunge that erased $2.2 trillion from share values.
Yesterday, the GBP/JPY pair grew and gained back some of the Monday’s losses.
On Tuesday, the EUR/USD pair declined in a correction after a recent strong growth.
A growth is expected. Within the daily timeframe, assumingly, a formation the third wave (3) of the senior level is finished.
European stocks retreated after benchmark indexes in the U.S. and China failed to sustain intraday rallies. The yen weakened and industrial metals fell.
China just gave investors one more reason to shun the most popular trading strategy in the $5.3 trillion-a-day currency market.