We have updated our privacy policy and terms & conditions. Find out more here.
0
 

Dollar off highs vs. yen, remains supported

By Investing.comForexJun 24, 2013 10:21AM GMT Add a Comment
 
AA
+
-
Investing.com - The dollar eased back from session highs against the yen on Monday, but the greenback continued to be supported by expectations that the Federal Reserve will start to unwind asset purchases later this year.

Dollar off highs vs. yen, remains supported
During European late morning trade, the dollar pulled back from two-week highs against the yen, with USD/JPY edging up 0.09% to 97.91, after touching highs of 98.70.

The safe haven yen found support as concerns over financial stability in China hit market sentiment, after the People’s Bank of China said lenders must meet higher requirements in liquidity management.

Demand for the dollar continued to be underpinned after Fed Chairman Ben Bernanke said last week the bank could begin slowing asset purchases by the end of this year and wind them down completely by the middle of 2014 if the economy continues to pick up.

The dollar was trading close to two-week highs against the euro, with EUR/USD sliding 0.13% to 1.3106.

Sentiment on the euro remained fragile as peripheral euro zone bond yields continued to grind higher amid concerns over the prospect of an end to the Fed’s stimulus program.

The yield on Spanish 10-year bonds rose to 5% for the first time since early April on Monday, up from 4.88% on Friday. Meanwhile, the yield on Italian 10-year bonds climbed to 4.71% from 4.58% on Friday.

The single currency showed little reaction after a report showed that the Ifo index of German business climate improved to 105.9 in June from 105.7 in May, in line with market expectations.

Elsewhere, the greenback was higher against the pound, with GBP/USD down 0.44% to 1.5354.

The dollar was almost unchanged against the Swiss franc, with USD/CHF inching up 0.01% to 0.9344.

The greenback was broadly higher against its Australian, New Zealand and Canadian counterparts, with AUD/USD dropping 0.28% to 0.9189, NZD/USD falling 0.28% to 0.7718 and USD/CAD advancing 0.45% to 1.0507.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.18% to 82.76.




Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Articles

Forex - EUR/USD weekly outlook: September 15 - 19
By 
Investing.com
 - Sep 14, 2014
Forex - GBP/USD weekly outlook: September 15 - 19
By 
Investing.com
 - Sep 14, 2014

Add a Comment

 

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

USD/CAD
 
 
 
Are you sure you want to delete this chart?
 
 
 
Are you sure you want to delete this chart?
 
 
 

Successfully Reported

Thank you. This comment has been flagged for a moderator.
_touchLoadingMsg