USDJPY
(Bloomberg) The yen fell against all but one of its 16 most-traded counterparts as the Bank of Japan (8301) added to its monetary stimulus program amid better-than-forecast U.S. data that renewed appetite for higher-yielding assets. The Japanese currency declined for a third week against the dollar, touching a six-month low yesterday, after hiring in the U.S. increased more than forecast. Norway's krone rallied after Norges Bank said it wouldn't fight currency appreciation. The dollars of New Zealand and Australia gained versus the yen after Chinese manufacturing accelerated. The Dollar Index rose for a second week before the presidential election on Nov. 6. What's making the yen move is the better U.S. data and the fact that risk aversion in Europe continues to decline, Adam Myers, director of foreign-exchange market strategy in London for at Credit Agricole SA (ACA), said yesterday. The BOJ easing was not enough of a surprise. We may be due for a snap-back, as the markets have become very sanguine. The yen fell 1 percent to 80.43 per dollar this week in its longest losing streak since March. It touched 80.68 yesterday, the weakest level since April 27. The Japanese currency declined 0.2 percent to 103.24 versus the euro. The shared currency dropped for a second week against the dollar, trading 0.8 percent to $1.2835.
(Bloomberg) The yen fell against all but one of its 16 most-traded counterparts as the Bank of Japan (8301) added to its monetary stimulus program amid better-than-forecast U.S. data that renewed appetite for higher-yielding assets. The Japanese currency declined for a third week against the dollar, touching a six-month low yesterday, after hiring in the U.S. increased more than forecast. Norway's krone rallied after Norges Bank said it wouldn't fight currency appreciation. The dollars of New Zealand and Australia gained versus the yen after Chinese manufacturing accelerated. The Dollar Index rose for a second week before the presidential election on Nov. 6. What's making the yen move is the better U.S. data and the fact that risk aversion in Europe continues to decline, Adam Myers, director of foreign-exchange market strategy in London for at Credit Agricole SA (ACA), said yesterday. The BOJ easing was not enough of a surprise. We may be due for a snap-back, as the markets have become very sanguine. The yen fell 1 percent to 80.43 per dollar this week in its longest losing streak since March. It touched 80.68 yesterday, the weakest level since April 27. The Japanese currency declined 0.2 percent to 103.24 versus the euro. The shared currency dropped for a second week against the dollar, trading 0.8 percent to $1.2835.
Support
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Resistance
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USDJPY
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80.159
|
80.682
|
79.889
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80.935
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|
79.366
|
81.458
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