- MarketPulse - https://www.marketpulse.com -

USD/JPY at 101.60 as U.S. Dollar Stalls

The yen’s advance to multi-month highs against the euro stalled on Friday as investors booked profits before the weekend.

The euro fetched 138.14 yen, off a four-month low of 137.98. It was still on track to end down for a fourth straight week and at a loss of 2.5 percent on the month.  Similarly, the greenback climbed off a one-week low of 101.42 to last stand at 101.55. On the month, the dollar was down roughly 0.7 percent.

“Expectations for a step-up in the pace of BOJ quantitative easing are currently running low, which is one reason the yen has recently been strengthening,” said Ray Attrill, strategist at National Australia Bank in Sydney.

CNBC [1]

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.


Latest posts by marketpulsefxstaff (see all [4])