Investing.com – The U.S. dollar rebounded from a one-month low against the yen on Monday, following reports that that al Qaeda leader Osama bin Laden had been killed by the U.S. military in Pakistan.
USD/JPY clawed back up from 80.98, the pair’s lowest since March 25 to hit 81.47 during early European trade, gaining 0.35%.
The pair was likely to find support at 80.98, the days low and a one-month low and resistance at 82.27, last Thursday’s high.
Late Sunday, U.S. President Barack Obama said bin Laden was killed by U.S. forces during a gun battle at a compound outside Pakistan’s capital, Islamabad. The president said he authorized the attack after he determined last week there was enough intelligence to take action.
The dollar was boosted by the perception that that bin Laden's death could make the U.S. less subject to further terrorist attacks, but some analysts remained skeptical of whether it would reduce the security risks facing the U.S.
The yen was also lower against the euro, with EUR/JPY climbing 0.23% to hit 120.49.
Later in the day, the U.S. Institute for Supply Management was to publish its manufacturing PMI.
USD/JPY clawed back up from 80.98, the pair’s lowest since March 25 to hit 81.47 during early European trade, gaining 0.35%.
The pair was likely to find support at 80.98, the days low and a one-month low and resistance at 82.27, last Thursday’s high.
Late Sunday, U.S. President Barack Obama said bin Laden was killed by U.S. forces during a gun battle at a compound outside Pakistan’s capital, Islamabad. The president said he authorized the attack after he determined last week there was enough intelligence to take action.
The dollar was boosted by the perception that that bin Laden's death could make the U.S. less subject to further terrorist attacks, but some analysts remained skeptical of whether it would reduce the security risks facing the U.S.
The yen was also lower against the euro, with EUR/JPY climbing 0.23% to hit 120.49.
Later in the day, the U.S. Institute for Supply Management was to publish its manufacturing PMI.