Yen Up Against Dollar After Weak US Data

November 26, 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.

Publication source
FxNet information  FxNet reviews

January 20, 2017
The dollar has settled moderately lower
Asian stock markets were mixed overnight, after U.S. and European shares closed in the red Thursday. Japan and mainland China bourses managed to move higher (Chinese GDP beat expectations at 6.8%)...
January 20, 2017
A huge disappointment in the UK data
UK retail sales fell most since 2012. We see he fastest pace of decline in almost five years in December. It is due to sales of... pretty much everything from household goods to clothing and food...
January 20, 2017
Trump takes office today. Markets await inauguration speech
Investors await Trump's inauguration and speech due later today as he takes office as the 45th President of the United States. The U.S. dollar was seen giving up some of the gains yesterday with some volatility coming off the EURUSD on the back of the ECB meeting...

HotForex Rating
OANDA Rating
XTB Rating
FOREX.com Rating
Orbex Rating
EXNESS Rating

Binary Brokerz Rating
IQ Option Rating
OptionFair Rating
Dragon Options Rating
OptionTrade Rating
OptionRally Rating