Investing.com - The dollar fell against the yen on Thursday, as weaker-than-expected factory orders for durable goods out of the U.S. coupled with strong retail sales out of Japan sent the greenback falling against a firming yen.
In Asian trading on Thursday, USD/JPY hit 82.61, down 0.35%, up from a low of 82.59 and off a high of 82.97.
The pair sought to test support at 81.99, Friday's low, and resistance at 83.38, Tuesday's high.
In the U.S., the Commerce Department reported durable goods orders increased 2.2% in February, not enough to fully reverse January's revised 3.6% decline.
The number also failed to meet expectations for a 3.0% increase.
The news sent the dollar weakening against the yen, which also gained on sentiment that Japanese exporters are entering a period where they repatriate money from overseas sales.
Meanwhile, Japan reported better-than-expected retail sales, which rose 3.5% in February from a year earlier, well above forecasts for a 1.4% gain.
The data sent the greenback falling against the yen, especially since U.S. consumer confidence and housing-sector numbers have been on the sluggish side lately.
Furthermore, Federal Reserve Chairman Ben Bernanke has said he could not rule out the need for stimulus tools to pump up the economy such as quantitative easing, which are bond purchases from banks designed to flood the economy with liquidity with the aim of encouraging price stability and hiring by pushing long-term interest rates low.
The dollar often weakens on mention of such accommodative policies.
The yen, meanwhile, was up against the pound and up against the euro, with GBP/JPY falling 0.33% to 131.28 and EUR/JPY down 0.31% at 110.05.
Later Thursday, data on Japanese industrial output, inflation rates and unemployment rates are due out.
On Thursday in the U.S., gross domestic product figures, initial jobless claims and results from the Federal Reserve Bank of Kansas City quarterly manufacturers' survey are due out.
Fed Chairman Ben Bernanke is due to make an appearance in public as well.
In Asian trading on Thursday, USD/JPY hit 82.61, down 0.35%, up from a low of 82.59 and off a high of 82.97.
The pair sought to test support at 81.99, Friday's low, and resistance at 83.38, Tuesday's high.
In the U.S., the Commerce Department reported durable goods orders increased 2.2% in February, not enough to fully reverse January's revised 3.6% decline.
The number also failed to meet expectations for a 3.0% increase.
The news sent the dollar weakening against the yen, which also gained on sentiment that Japanese exporters are entering a period where they repatriate money from overseas sales.
Meanwhile, Japan reported better-than-expected retail sales, which rose 3.5% in February from a year earlier, well above forecasts for a 1.4% gain.
The data sent the greenback falling against the yen, especially since U.S. consumer confidence and housing-sector numbers have been on the sluggish side lately.
Furthermore, Federal Reserve Chairman Ben Bernanke has said he could not rule out the need for stimulus tools to pump up the economy such as quantitative easing, which are bond purchases from banks designed to flood the economy with liquidity with the aim of encouraging price stability and hiring by pushing long-term interest rates low.
The dollar often weakens on mention of such accommodative policies.
The yen, meanwhile, was up against the pound and up against the euro, with GBP/JPY falling 0.33% to 131.28 and EUR/JPY down 0.31% at 110.05.
Later Thursday, data on Japanese industrial output, inflation rates and unemployment rates are due out.
On Thursday in the U.S., gross domestic product figures, initial jobless claims and results from the Federal Reserve Bank of Kansas City quarterly manufacturers' survey are due out.
Fed Chairman Ben Bernanke is due to make an appearance in public as well.