During the Asian trading day the Yen weakened its positions. A fundamental and lasting factor for the weakening at the moment is the political situation, since Prime Minister Shinzo Abe decided to hold early elections.
Yesterday we observed the weakening of the dollar, despite the fact that the United States GDP grew by 3.1% in the second quarter, although according to previous estimates, the growth was 3%. Growth was compensated by indicators on the labor market. However, the likely increase in interest rates and the new tax reform voiced by Trump prompted investors to give a preference to the dollar over the gold. At the moment Gold is trading near the lowest level since August.
Brent crude oil has moved away from a six-month high and is now trading at a price of $57.13/bbl.
The British pound has also moved away from the highs and is currently trading near the 1.34 mark.
