Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

USD/JPY slides on Ukraine unease, U.S. data support

Published 04/25/2014, 12:12 PM
Updated 04/25/2014, 12:13 PM
Yen enjoys safe-haven appeal amid Ukraine unease

Investing.com - The dollar slid against the yen on Friday after the standoff between Russia and Ukraine intensified, though better-than-expected U.S. consumer sentiment numbers cushioned the greenback's losses.

In U.S. trading, USD/JPY was down 0.20% and trading at 102.13, up from a session low of 101.96 and off a high of 102.50.

The pair was expected to test support at 101.87, the low from April 17, and resistance at 102.73, Tuesday's high.

Tensions in Ukraine continued to brew on Friday after Ukrainian troops killed several pro-Russian rebels on Thursday.

Russian troops, meanwhile, conducted military drills close to the border between the two countries.

In response, U.S. Secretary of State John Kerry said Washington was moving closer to slapping fresh sanctions on Moscow, which steered investors away from the dollar and into safe-haven yen positions.

Data out of the U.S., however, offset geopolitical tensions.

The Thomson Reuters/University of Michigan's final April consumer sentiment index came in at 84.1, beating market expectations for a 83.0 reading. April's preliminary reading was 82.6.

The yen, meanwhile, was up against the euro and up against the pound, with EUR/JPY down 0.14% at 141.33, and GBP/JPY trading down 0.18% at 171.63.

The euro, meanwhile, battled monetary uncertainty at home.

European Central Bank President Mario Draghi said Thursday that the euro exchange rate is an "increasingly important factor" in monetary policy. The exchange rate is not a policy target in itself, but the bank’s monetary policy stance could be affected by a continued appreciation in the currency, Draghi added.

He also said the ECB could launch a "broad-based" asset purchase program if the medium-term inflation outlook deteriorated.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.