4/28/2021 1:32:36 PM GMT | By Pablo Piovano
EUR/JPY clinches fresh YTD highs near 131.70.
Higher US yields keep the yen offered so far.
The FOMC is expected to leave policy unchanged.
The determined selling pressure in the Japanese yen continues to fuel the upside in
EUR/JPY, this time to new 2021 highs in the 131.65/70 band.
EUR/JPY focused on the FOMC
EUR/JPY extends the weekly advance for the fourth consecutive session, although it comes under some selling pressure soon after recording new YTD peaks near 131.70 earlier on Wednesday.
Further recovery in yields of the US 10-year reference to the 1.65% area sustain the selling pressure in the Japanese safe haven, all rendering in extra legs to EUR/JPY in spite of the offered noted around the European currency.
EUR/USD in 2021 lows, gets ready to break below 1 1800
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EUR/USD recedes from tops, still above 1 2200
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The Euro to South African Rand fell today, with the pairing currently trading around R18.34.
The South African Rand benefited from the International Monetary Fund’s (IMF) bullish outlook for the global economy.
Covid-19 vaccine have helped improve the IMF’s previous outlook back in October.
However, the IMF’s Chief Economist, Gita Gopinath, warned:
‘Much now depends on the outcome of this race between a mutating virus and vaccines to end the pandemic, and on the ability of policies to provide effective support until that happens.’
‘There remains tremendous uncertainty and prospects vary greatly across countries.’
South Africa’s Covid-19 situation also appears to be worsening, with the new virus variant causing concern as the nation’s excess deaths soars.