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USD Retreats from China-backed Increase, Sets Record Lows Against Yen

December, 27 2016
watermark Economic news

The USD dropped from its recently high levels during the mid-morning trading session in spite of maintaining some of its profits as opposed to majority of its G-10 colleagues. The dollar dropped immediately after China’s Xi Jinping released a statement saying that he is open to China’s economic growth retreating below the country’s target of 6.5%. The USD/JPY traded at 117.26 points after posting session lows of 117.18 points.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.