The dollar extended its decline against the yen in Forex, falling to session low 102.22 after opened the session at 102.46. Risk appetite after the publication of trade data of China in the Asian session today, February 12, 2014, quickly disappeared and the demand for safe haven back, helping to strengthen the yen. "The dollar ended the session with a loss of 0.16%", reported by Forex Broker XM.
As for the pound sterling, during the European session, the main event for the exchange rate of sterling against the dollar was the publication of the quarterly inflation report the Bank of England. UK bond yields and sterling rose after Bank of England Governor Mark Carney said that the UK's economic recovery is gaining momentum. Markets have taken into account the likelihood of a rate hike in 2015, earlier than previously believed.
The pound rose 0.4% against the dollar by the end of the European session, closing at 1.6536, after 1.6557 reached in the Forex market.
