USD holding strong after BOJ rate cut

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The BOJ policy easing was the key driver for currency trading on Friday. The yen lost gradually ground throughout the day and finally settled in the 121 area. EUR/USD also drifted south, especially during the US trading session. It wasn’t clear whether this was dollar strength or euro weakness/profit taking on recent euro gains.US Q4 GDP growth was close to expectations. Still, the dollar gained some more ground after the publication. EUR/USD closed the session at 1.0831 (1.0940 on Thursday).

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