USD/JPY Touches 102 Before U.S. Sentiment, Manufacturing Data

The yen slid against all its major peers before U.S. data forecast to show consumer confidence improved and regional manufacturing shrank at a slower pace, adding to evidence the world’s biggest economy is recovering.

The yen snapped a three-day advance versus the euro as Japanese stocks rose, sapping demand for refuge assets. The dollar rose against the euro amid speculation the Federal Reserve will taper its monetary stimulus. The Dollar Index climbed 0.3 percent to 83.913.

“I expect to see further yen weakness as economic indicators improve in the U.S. and other countries,” said Yuji Kameoka, the chief currency strategist at Daiwa Securities Co. in Tokyo. “Japan’s monetary easing will underpin the yen’s decline.”


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