10 October, 2013
Markets were upbeat on Thursday as investors were willing to take on more risk on expectations that the Washington lawmakers may reach a compromise deal to avoid a default by the US as the debt ceiling looms.
The FOMC minutes released last on Wednesday also boosted the dollar, as they showed policy makers see tapering by the end of this year.
The US dollar was back in demand, lifting the currency for a third day today, especially making gains against the yen, which weakened further.
Strong data from Japan also helped lift Japanese equity markets, and thus led to a fall in the yen. When Japanese sticks gain, the yen tends to fall. Investors were upbeat after Japanese data showed August core private sector machinery orders rose by more than expected.
The safe haven yen fell against the US dollar, to 97.76 per dollar and weakened 0.2 percent to 131.96 per euro.
The greenback advanced 0.2 percent to $1.3497 per euro. The dollar also gained against the sterling.
The British pound will be in focus later today as the Bank of England's monetary policy announcement is due . Sterling traded at $1.5936 compared with $1.5953 late Wednesday.
The Aussie is weaker today after disappointing Australian jobs data. September employment was up 9,100 versus 15,000 expected. AUDUSD fell to $0.9388.
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...