26 November, 2013
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 week’s meeting showed some concern about Japan’s economic outlook and whether the central bank’s 2% inflation target could be met.
Meanwhile, soft US housing data weighed on the dollar, which also helped the yen gain against it. Data released in the US session on Monday showed US pending home sales fell to a 10-month low in October.
The yen paused its decline against the dollar and rebounded off a six-month low to trade at 101.32 per dollar in Asia today.
The yen also gained against the euro and moved off a 4-year low hit on Monday to end the Asian session today at 137.36 per euro.
The euro eked out some against the dollar and shrugged off concerns of possible negative interest rates as hinted by ECB policymakers on Monday. The euro rose to $1.3527 in Asia today compared to Monday’s drop to $1.3489.
Sterling was little changed against the dollar in the Asian session , trading at 1.6152 as markets wait on the sidelines for Bank of England Governor Mark Carney’s speech today, hoping to get an insight on monetary policy and the UK economic outlook.
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 dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...
The US dollar is broadly stronger against its major G10 counterparts on Monday while the yen remains weak as a result of a sell-off due to outflows from safe havens like itself...