Dollar rises against yen after strong US data

September 20, 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.

Publication source
FxNet information  FxNet reviews

January 17, 2017
Yen strengthens as markets jittery ahead of May's press conference
The U.S. dollar was trading weak yesterday in a holiday thin trading session. The Japanese yen strengthened strongly in the early hours today as investors turn cautious ahead of the British PM...
January 16, 2017
U.S. markets are closed Monday
U.S. markets are closed Monday for Martin Luther King Day. This will be a busy week for traders, with the inauguration of president-elect Trump on Friday headlining...
January 16, 2017
Busy start to the GBP with Carney speech
U.S. markets are closed today on account of Martin Luther King Day. Economic data is quiet ahead of another busy week. The Bank of England Governor, Mark Carney will be speaking later this afternoon and his comments come a day before the British PM Theresa May will be holding her press conference on Brexit...

Tickmill Rating
OctaFX Rating
FOREX.com Rating
Grand Capital Rating
Trade360 Rating
OANDA Rating

Porter Finance Rating
Binary Brokerz Rating
IQ Option Rating
OptionsXO Rating
OptionBit Rating
Anyoption Rating