Geopolitical Tremors Weakens the Dollar

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The recent missile strikes launched by the United States at an airbase in Homs, Syria yesterday that allegedly carried chemical weapons brings a bit of distraught on the greenback making it a bit weaker against its blooming rival, the yen.

The yes opens the Asian trading session today trading at 110.40 against the US currency. A relevantly weaker against the Japanese safe heaven, the yen continues to flourish even with the high risk of aversion in its current state and environment.

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Dollar Weaker Against Currencies

The US currency also loses its previous gained momentum; it is continuous to weaken against a basket of currency trading at 100.64 at Asian midday trading. The greenback, yesterday, inches higher amongst every other currency because of the positive data coming from March’s employment rate.

The current geopolitical turmoil brought the 59 Tomahawk missiles launched by the US navy warships in the eastern Mediterranean Sea. Recent reports and news provided that the multiple strikes targets are mainly airstrips, aircraft and fuel stations on the Shayrat Air Base.

According to the President of Syria on a press conference with King Abdullah II of Jordan “What happened yesterday is unacceptable to me,” He also mentioned that the attack had crossed a lot of lines “beyond red-line.”

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Yen Pressures Several Currencies        

The yen also pushes other dollars such as the Australian and New Zealand dollar to the brink, even with the risk of aversion. The yen also puts several pressures on both dollars; the Aussie was trading around at 83.09, after having an all-time high at 83.7, albeit the New Zealand is trading at 76.89 after being up at flat 77 last seen yesterday.

On the other hand, the euro was down a little bit on the day at $10.643, after more steams coming from the European Central Bank President Mario Draghi. The currency now sits at a three-week low of $1.0629 overnight, it is currently down as much as 0.1% for the whole week.

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