15 October, 2013
The US dollar strengthened to its highest level in two weeks against the yen in early Asian session trading on Tuesday as risk sentiment gained on positive news on the US debt saga.
The greenback was boosted by news in the prior US session on Monday that there was significant progress in the US budget negotiations and Washington lawmakers were close to making a deal before the debt ceiling will be reached on Thursday.
Senate Majority Leader Harry Reid said he was hopeful a deal could be announced very soon and even by today.
The dollar extended gains against the yen from the US session and USDJPY climbed to a peak of 98.69 yen in Asia before easing to 98.40 yen.
Euro gave up some gains against the yen, after gaining 0.3 percent during Monday, with EURJPY dropping from a high of 133.81 yen down to 133.50 yen by the end of Asian trading.
Euro fell from Monday’s high of $1.3596, with EURUSD slipping down to an Asian session low of $1.3550 63.
Gold moved off its Monday high of $1290 and fell to $1,270 as the US dollar strengthened. The two assets usually have an inverse price relationship.
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...
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The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...