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USD/JPY drops to 103.90, down 0.13% intraday, as markets in Tokyo open for Monday’s trading. In doing so, the risk barometer pays a little heed to the recently improved market sentiment after Japan’s Tankan data for the fourth quarter (Q4) marked upbeat figures.
During Wednesday’s interview on Bloomberg, Morgan Stanley’s Chief Investment Officer (CIO) Mike Wilson said that the market is overbought and the market is probably a little bit overvalued quite frankly because interest rates now are finally starting to catch up.
USD/CAD stays depressed near 1.2985, down 0.05% intraday, ahead of Monday’s European session. In doing so, the pair benefits from the broad US dollar weakness while ignoring Canada’s extension of the coronavirus (COVID-19)-led restrictions. Additionally, the recent weakness in oil prices, Canada’s biggest exports, also couldn’t defy the sellers.
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The Turkish lira (TRY) fell to 7.5112 per US dollar early Friday, its highest level since Sept. 25.
USD/CAD trades near the point of the 1.3100 level in early European trading, easing off the six-day highs reached at 1.3170 during late-Asia.
A decade after The Great Recession, Americans are dealing with the worst economy since The Great Depression. Onset by the coronavirus pandemic, US growth cratered in the second quarter of 2020, with inconsistent evidence emerging of a widespread V-shaped recovery in the third quarter.
Japan lowered infection risk advisory for China and eight other countries to level 2 from level 3, the Foreign Minister Motegi announced on Friday.