Today, the European currency is trading steadily against the US dollar – in the focus of investors’ attention, the central event of the week is the meeting of the European Central Bank. At the same time, the US dollar rose against the yen, after the news that the Bank of Japan left the interest rate unchanged, as most bidders had expected. BOJ canceled growth forecasts, and revised inflation targets. The Japanese central bank expects inflation to reach 2% by March 2020, which is one year below the forecast. After the BOJ meeting, the dollar strengthened against the yen – the USDJPY pair returned to levels JPY112.30. After the meeting of the Japanese regulator, the attention of investors switches to the meeting of the ECB, which is expected to leave interest rates unchanged in its monetary policy. Investors hope to hear that ECB President Mario Draghi will speak about the bond purchase program by the central bank and the program to support the European economy. Markets expects that Draghi is likely to be cautious with comments, given that the rapid appreciation of the euro will affect inflation and prove to be an obstacle for the ECB in its 2% target. More restrained comments from the head of the ECB may push the euro EURUSD lower, around $ 1.1425, – $ 1.1400 where, as expected, the player will still buy off the pair. The euro has become one of the strongest currencies this year, gaining almost 9% against the dollar on an annualized basis, with 7.5% of this growth taking place over the past three months. On FOREX, the British pound GBPUSD traded flat against the dollar in Asian trading today. Today the UK will publish data on retail sales in June. As expected, the data will be weak and this may threaten the sustainability of the psychological level of 1.30, which the dollar has been storming for several days. In the US, investors will analyze weekly applications for unemployment benefits. The Australian dollar AUDUSD was under pressure, dropping to $ 0.7929 on Asian togas. Australia strengthened on the news of a strong employment report, but then retreated to take profits. This year, the Australian has become another big win and increased by 10% compared to the US dollar on an annualized basis. According to some observers, a strong labor market may support the transition to higher interest rates from the central bank of Australia, which will continue to support the Australian currency.

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