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Daily Review 30.09.2016

Dollar emerges against yen; euro advances

The us dollar surges and hit an eight-day high against the yen a day after OPEC agreed to cut oil output, while the easing troubles encompassing the European banking sector helped the euro yield.

The dollar went up to 0.44 percent against the yen at 101.09 yen after hitting an eight-day high of 101.84

Euro was up 0.2 percent against the U.S. dollar at $1.1245, overturning losses sustained earlier in the session after the reduced issues around the European banking sector helped gained the currency again as said by the analysts.

The dollar index was last down 0.09 percent at 95.344. Analysts said that the gains, while it’s still moderate, reflected the view that there was a greater possibility that the Federal Reserve would raise interest rates in December.

Gold deflates as stocks close lower

Gold shifted from it earlier losses as all three major U.S. indexes closed lower.

The gold went up a notch after the dollar flip-flopped in the wake of mixed U.S. data and as the apprehension grew over whether OPEC members would be able to implement product reduction that could fuel inflation.

Spot gold fell at $1,321.15 an ounce, having touched an overnight high of $1,325.80.

U.S. gold futures settled up 0.2 percent at $1,324.50.

U.S. stocks traded distinctly lower on Thursday after banking stocks fell sharply.

Gold pared earlier gains in the outcome of a decision by the OPEC on Wednesday to make modest output cuts in the first such deal since 2008.

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