Asian Session – Dollar holds gains versus yen after strong US data
September 20, 2013 6:05 am
The Asian session was quiet as expected for a Friday and after a volatile week following the Federal Reserve “ surprise”.
The dollar consolidated gains made against the yen after reversing sharp losses from the Fed-statement on Wednesday. USDJPY shot up to as high as 99.61 in the US session on Thursday after a string of upbeat US economic data.
Jobless claims fell more than expected, existing home sales rose while the Philly Fed index beat expectations and showed manufacturing growth in the area.
The euro held onto gains and is near a seven-month high against the dollar. EURUSD traded a tight range in Asia between $1.3527 and $1.3538.
Today’s European Consumer Confidence data will be watched. However key risk for the single currency will be German elections this weekend. Since Germany is Europe’s largest economy, they will be closely watched.
Against the yen, the euro traded near a four-year high versus the yen. EURJPY hit as high as 134.94 on Thursday and traded near this level in Asia today, finding support at 134.32.
The euro is on course for a 1.8 percent weekly gain versus both the dollar and the yen.
The Asian session was quiet as expected for a Friday and after a volatile week following the Federal Reserve “ surprise”.
The dollar consolidated gains made against the yen after reversing sharp losses from the Fed-statement on Wednesday. USDJPY shot up to as high as 99.61 in the US session on Thursday after a string of upbeat US economic data.
Jobless claims fell more than expected, existing home sales rose while the Philly Fed index beat expectations and showed manufacturing growth in the area.
The euro held onto gains and is near a seven-month high against the dollar. EURUSD traded a tight range in Asia between $1.3527 and $1.3538.
Today’s European Consumer Confidence data will be watched. However key risk for the single currency will be German elections this weekend. Since Germany is Europe’s largest economy, they will be closely watched.
Against the yen, the euro traded near a four-year high versus the yen. EURJPY hit as high as 134.94 on Thursday and traded near this level in Asia today, finding support at 134.32.
The euro is on course for a 1.8 percent weekly gain versus both the dollar and the yen.
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