Investing.com - The dollar slipped lower against the yen on Monday, re-approaching recent five-week lows as ongoing uncertainty over the U.S. government shutdown and the risk of a U.S. debt default weighed.
USD/JPY hit 97.03 during late Asian trade, the session low; the pair subsequently consolidated at 97.09, shedding 0.38%.
The pair was likely to find support at 96.30, the low of August 7 and resistance at 97.47, Friday’s high.
Republican House Speaker John Boehner said Sunday the House will not support bills to fully reopen the government or increase the U.S. debt ceiling unless Democrats agree to talks about spending cuts.
The comments fuelled fears that the political deadlock in Washington will not be resolved by October 17, the date which the Treasury Department has estimated the U.S. could risk an unprecedented default.
Meanwhile, delays in U.S. economic data releases fuelled expectations that the Federal Reserve will hold off on any move to scale back its stimulus program.
The shutdown meant that Friday’s scheduled release of the U.S. nonfarm payrolls report for September was postponed and no new date was given for the release of the data.
Elsewhere, the yen was higher against the euro, with EUR/JPY down 0.24% to 131.78.
The euro zone was to release revised data on second quarter growth later Monday.
USD/JPY hit 97.03 during late Asian trade, the session low; the pair subsequently consolidated at 97.09, shedding 0.38%.
The pair was likely to find support at 96.30, the low of August 7 and resistance at 97.47, Friday’s high.
Republican House Speaker John Boehner said Sunday the House will not support bills to fully reopen the government or increase the U.S. debt ceiling unless Democrats agree to talks about spending cuts.
The comments fuelled fears that the political deadlock in Washington will not be resolved by October 17, the date which the Treasury Department has estimated the U.S. could risk an unprecedented default.
Meanwhile, delays in U.S. economic data releases fuelled expectations that the Federal Reserve will hold off on any move to scale back its stimulus program.
The shutdown meant that Friday’s scheduled release of the U.S. nonfarm payrolls report for September was postponed and no new date was given for the release of the data.
Elsewhere, the yen was higher against the euro, with EUR/JPY down 0.24% to 131.78.
The euro zone was to release revised data on second quarter growth later Monday.