Asian Session – Yen falls to one-month low against euro
August 23, 2013 6:10 am
The yen was the worst performer during the Asian session on Friday, extending losses against the dollar and reaching a one-month low against the euro on expectations of bolder monetary policy measures by the Bank of Japan.
The yen lost 0.3 percent against the dollar and is poised for a 1.5 percent loss since August 16.
USDJPY hit a three week high in the Asian session today of 99.09 yen, the highest since August 5.
Against the euro, the yen is down 0.2 percent to 132.15 per euro and has lost 1.6 percent on the week.
EURJPY hit a session high of 132.33, the highest since July 25.
The U.S. dollar remains buoyed two days after the Federal Reserve minutes were released.
The euro slipped 0.1 percent against the dollar in Asia today to $1.3340, and dipped as low as $1.3334.
The euro’s losses were limited thanks to European Central Bank Governing Council member Ewald Nowotny said good economic news removed the need for further interest-rate cuts.
The British pound consolidated into a tight range in Asia today after finding support at $1.5575 near a one-week low hit yesterday.
The pound is under pressure after dovish comments by Bank of England MPC member Martin Weale. He said that more QE might be needed if the U.K. recovery stalls.
The yen was the worst performer during the Asian session on Friday, extending losses against the dollar and reaching a one-month low against the euro on expectations of bolder monetary policy measures by the Bank of Japan.
The yen lost 0.3 percent against the dollar and is poised for a 1.5 percent loss since August 16.
USDJPY hit a three week high in the Asian session today of 99.09 yen, the highest since August 5.
Against the euro, the yen is down 0.2 percent to 132.15 per euro and has lost 1.6 percent on the week.
EURJPY hit a session high of 132.33, the highest since July 25.
The U.S. dollar remains buoyed two days after the Federal Reserve minutes were released.
The euro slipped 0.1 percent against the dollar in Asia today to $1.3340, and dipped as low as $1.3334.
The euro’s losses were limited thanks to European Central Bank Governing Council member Ewald Nowotny said good economic news removed the need for further interest-rate cuts.
The British pound consolidated into a tight range in Asia today after finding support at $1.5575 near a one-week low hit yesterday.
The pound is under pressure after dovish comments by Bank of England MPC member Martin Weale. He said that more QE might be needed if the U.K. recovery stalls.
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