Daily Currency Report
Overview
Last week saw the dollar post significant gains, notably against the yen. Iran's nuclear stand-off together with the North Korean missile crises and Israel's attacks are all creating uncertainty across the exchanges. Investors have responded by buying gold which has pushed it to its highest level in two months.
GBP
The sterling fell against the dollar, however it reached its highest level in nearly eight years against the yen after the selling that followed the Bank of Japan's comments after the interest rate rise.
USD
The dollar had been trading higher, lifted by gains against the yen after the BoJ raised interest rates for the first time in six years. Nevertheless, analysts said the dollar's rally could be short-lived, especially given the drop in sentiment and retail sales.
EUR
The euro failed to impress due to a lack of substantial economic data.
JPY
The Bank of Japan concluded a two-day meeting with a widely expected quarter-percentage point increase in interest rates. This brought to an end its zero interest rate policy.