20 September, 2013
The US dollar reversed all losses made against the yen from the Fed induced drop and surged back above the key 99.00 yen level on Thursday on the back of strong data.
The rally ran out of steam in Asia today and the USDJPY pair consolidated around 99.40 yen.
Bank of Japan governor Kuroda’s speech today had little impact as he reiterated that the BOJ will maintain QE for as long as needed to achieve its 2 percent inflation target. Nothing not already known to investors.
The dollar was helped higher against the yen by US economic data on Thursday showing US existing home sales surged in August to a 6-1/2-year high and factories grew busier in the Mid-Atlantic region this month.
The data push the US 10-year Treasury yield back up to 2.75 percent from a five-week low of 2.67 percent reached just after the Fed's surprise decision not to taper on Wednesday.
Euro held steady at a seven-month high against the dollar. German election this weekend will be in focus since it is seen as the Euro zone’s engine of growth.
EURUSD traded sideways in Asian trading today between $1.3527 and $1.3538. The euro is poised to end the week with a 1.8 percent gain against the dollar.
The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...
The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...
The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625
The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...
The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...
The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...
The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...
The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...
The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...