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Forex - Yen weaker in early Asia in light data day

Published 12/21/2014, 05:46 PM
Updated 12/21/2014, 05:47 PM
Yen weaker in Asia

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 0.8140, down 0.07%.

Later, the Bank of Japan's Monthly Economic Report for December is due at 1400 Tokyo (0500 GMT).

Last week, the dollar traded higher against most major currencies on Friday in subdued trading after falling jobless assistance claims and reassurances from the Federal Reserve this week continued to stoke expectations for rate hikes in 2015.

The dollar enjoyed support after the U.S. Department of Labor said on Thursday that the number of individuals filing for initial jobless benefits in the week ending Dec. 12 fell by 6,000 to 289,000 from the previous week’s revised total of 295,000. Economist had forecast an increase of 1,000.

The data came a day after the Fed said it would be "patient" before raising rates, guidance which it said is consistent with earlier assurances statement that rates would stay low "for a considerable time."

Fed Chair Janet Yellen said the central bank was unlikely to raise rates for the "next couple of meetings" indicating that a move in April at the earliest is possible.

Still, the dollar saw support on the notion that the days of rock-bottom interest rates are coming to an end.

The US dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, ended up last week 0.43% at 89.83.

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