19 November, 2013
The US dollar slid against the yen during a quiet Asian session today, trading below the key 100 yen level and touching a low of 99.56 before steadying at 99.80 by the end of the session.
Much of the reason behind the slide is due to profit taking as market participants are unwilling to take the USDJPY pair too high as there are expectations of continued quantitative easing by the Federal Reserve, which tends to have a weakening effect on the dollar.
The euro remains resilient despite the long-run uncertainties surrounding the economic and financial health of the region. EURUSD continues to trade above the key $1.35 handle, hitting a high of $1.3522 in the Asian session today. Euro reached as high as $1.3540 yesterday.
Sterling traded an extremely tight range against the dollar, between $1.6098 and $1.6123.
There weren’t many surprises from the minutes from the Reserve Bank of Australia’s policy meeting released today from the meeting two weeks ago. The assessment of the economy in the Reserve Bank of Australia’s latest meeting minutes was relatively upbeat but did reiterate the value of the AUD is still too high.
The optimism on the Australian economy and a broadly weaker US dollar helped lift aussie, with AUDUSD rising to $0.9430.
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...