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The US Dollar Is Losing Ground in Yen Pairing

We are seeing the US dollar slipping for Tuesday as it loses against the euro and the Japanese yen.

The USD/JPY pairing is down 0.211%, and the USD/EUR pairing has dropped 0.280%. The euro is managing to advance on the dollar after reports indicate that Eurozone inflation is sticking and wages are remaining high for the region. The USD/EUR pairing has been down for days, indicating a tough road to recovery.

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The euro is improving after the European Central Bank (ECB) issued a report on wages that showed they were elevated and are remaining elevated. That means that there could be an ECB rate cut coming sooner than expected, which might hurt the euro but probably not significantly. The bank will only make those cuts if they think the economy is strong enough to handle it.

Asian Markets Report in

China is cutting its 5-year Loan Prime Rate, which could hurt its economy even more. The country is suffering from deflation, a struggling job market, slowing growth, and a deserted housing market.

The Japanese markets are struggling as well, and the Japanese economy is falling behind many other major countries. That is a problem that was made even more apparent after news broke that Japan’s economy is falling below even that of Germany at the moment.

However, the Japanese yen continues to remain strong, partially thanks to the work of the BRICS coalition of countries that are undermining Western powers and economics by phasing out the dollar in their markets. This plan has involved major powers in Asia, Africa, and South America so far and is having a knock down effect on surrounding countries. Of course, it is affecting the US dollar as well, making it difficult for it to gain much ground with so much resistance against it.

The US dollar has managed slightly better against the yen than the euro, with the pairing up and down over the last few days, which could allow the US dollar to take the lead soon.



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Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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