8 October, 2013
As the Asian session opened, the US dollar dipped against the yen to 96.55, a new eight month low. However, in a surprise move, the dollar rebounded fast and advanced throughout the session to gain over 60 pips. As the European session came around, the USDJPY was up at 97.15 yen.
The dollar however might come under renewed pressure as the US government shutdown goes into a second week and the US debt ceiling is approaching on the 17th of October.
So far there are no signs of any breakthrough in the stalemate, and if investors get more nervous, they will likely move funds into safe haven assets like the yen.
For today, there has been some rebound in the dollar. The dollar gained 0.1 percent against a basket of six major currencies after slipping 0.2 percent yesterday.
Against the euro, dollar edged up slightly, with EURUSD sliding to a session low of $1.3556 from $1.3579, currently down about 15 pips as the pair enters the European session at $1.3563.
The British pound was little changed, edging slightly slower against the dollar in Asia, to $1.6064.
The dollar also bounced against the Swiss franc, with USDCHF up from 0.9027 to 0.9058.
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...