23 October, 2013
The US dollar extended losses against the yen during the European session, still suffering losses following the disappointing US nonfarm payrolls report yesterday. However the greenback managed to eke out some gains versus the euro and sterling.
USDJPY tumbled to a European Session low of 97.14 yen. It was little changed during the session but on the day it has lost 0.7 percent.
After a strong rally to a 2 -year high, the euro was due for a correction against the dollar as profit-taking opportunities were taken by investors.
EURUSD fell 0.14 percent against the dollar to $1.3753. Against the yen, euro fell from a 4-year high of 135.50 hit yesterday, to drop to a low of 133.60 today.
Euro will be closely watched as the European Central Bank stress tests are underway, with tougher measures in place when reviewing Eurozone banks. European stock markets fell today on the news.
Sterling extended losses against the dollar after falling hard as soon as the European session began, with GBPUSD opening at $1.6212 and slipping to $1.6120.
The Bank of England Minutes to the October 8-9 meeting of the Monetary Policy Committee were released today and showed policy members unanimously voted to keep monetary policy unchanged and the interest rate at 0.50 percent. There were signs that policy will not be changed soon and this led to the weakness in the pound.
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...