We have updated our privacy policy and terms & conditions. Find out more here.
1
 

Forex - USD/JPY up as Fed action seen boosting dollar

ForexJun 25, 2013 01:57AM GMT Add a Comment

Investing.com - The U.S. dollar traded higher against the Japanese yen Tuesday in Asia as traders continue to expect the end of U.S. monetary easing will boost the greenback against its major rivals.

In Asian trading Tuesday, USD/JPY rose 0.24% to 97.98 after earlier trading as high as 98.08. The pair is likely to find support at 96.85, Friday’s low and resistance at 99.45, the high of June 6.

In U.S. economic news out Monday, the Federal Reserve Bank of Philadelphia said late last week that its manufacturing index rose to 12.5 in June from -5.2 in May, well above expectations for a -2.0 reading.

A separate report showed that U.S. existing home sales climbed 4.2% to 5.18 million units in May from April’s total of 4.97 million, far surpassing market calls for a 0.6% increase.

Solid data points such as those stoke speculation that the U.S. economy, the world’s largest, is improving at such a clip that the Fed can start trimming its USD85 billion-a-month bond-buying activities in the near-term. Traders widely expect the Fed to cease easing in 2014.

Earlier Tuesday, the Bank Of Japan said that Japan’s corporate services price index rose by a seasonally-adjusted 0.3% last month following a -0.3% reading in April. Analysts had expected Japan’s CSPI to rise to 0.1% last month. The April reading was revised up from -0.4%.

USD/JPY got a lift Monday after BoJ Deputy Governor Kikuo Iwata said the central bank can still deploy easing measures if it has to.

Elsewhere, EUR/JPY rose 0.26% to 128.57 while AUD/JPY added 0.37% to 90.74. NZD/JPY advanced 0.33% to 76.04.


Forex - USD/JPY up as Fed action seen boosting dollar
 

Related Articles

Forex - Yen weaker in early Asia in light data day
Forex - Yen weaker in early Asia in light data day
By Investing.com - Dec 21, 2014

Investing.com - The yen was weaker in early Asia on Monday in a light data day while the Aussie also fell a tad.USD/JPY traded at 119.52, up 0.05%%, while AUD/USD changed hands at ...

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.

NZD/JPY
 
 
 
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
 
 
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.