US Session – Yen slips after Japan’s current account surplus lower than forecast
October 8, 2013 6:42 am
The US dollar rebounded in Tuesday’s Asian session after hitting an eight-month low against the yen on Monday. A rise in Japanese stock markets led to a fall in yen, relieving some pressure on the dollar.
There are no new developments in the US budget negotiations in Congress while the government has been shut for seven days. Meanwhile the US debt ceiling is approaching in nine days, putting the US at risk of default. Until a deal is reached, the dollar will likely remain under pressure.
In the Asian session today, the dollar took a pause from a sharp decline yesterday and trimmed some losses against the yen.
USDJPY was up 0.4 percent in the Asian session at 97.16, bouncing off an eight-week low of 96.55 yen reached on Monday.
Meanwhile, data from Japan showed the nation’s current account surplus expanded less than forecast. This led to some weakness in yen after the data.
The dollar gained 0.1 percent against a basket of six major currencies after slipping 0.2 percent yesterday.
The euro was little changed against the dollar, and has been oscillating around the key support level of $1.3565 since opening on Monday. In today’s Asian session, the pair moved to the lower end of the range.
Sterling moved very little, edging slightly slower against the dollar in Asia, to $1.6064.
The US dollar rebounded in Tuesday’s Asian session after hitting an eight-month low against the yen on Monday. A rise in Japanese stock markets led to a fall in yen, relieving some pressure on the dollar.
There are no new developments in the US budget negotiations in Congress while the government has been shut for seven days. Meanwhile the US debt ceiling is approaching in nine days, putting the US at risk of default. Until a deal is reached, the dollar will likely remain under pressure.
In the Asian session today, the dollar took a pause from a sharp decline yesterday and trimmed some losses against the yen.
USDJPY was up 0.4 percent in the Asian session at 97.16, bouncing off an eight-week low of 96.55 yen reached on Monday.
Meanwhile, data from Japan showed the nation’s current account surplus expanded less than forecast. This led to some weakness in yen after the data.
The dollar gained 0.1 percent against a basket of six major currencies after slipping 0.2 percent yesterday.
The euro was little changed against the dollar, and has been oscillating around the key support level of $1.3565 since opening on Monday. In today’s Asian session, the pair moved to the lower end of the range.
Sterling moved very little, edging slightly slower against the dollar in Asia, to $1.6064.
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