Investing.com – The U.S. dollar slipped to a daily low against the yen on Tuesday, as risk appetite waned with investors focusing on the release of minutes from the Federal Reserve’s most recent policy-setting meeting later in the day.
USD/JPY hit 76.66 during late Asian trade, the daily low; the pair subsequently consolidated at 76.72, slipping 0.13%.
The pair was likely to find support at 76.29, the low of August 11 and resistance at 77.51, the high of August 26.
Market sentiment weakened amid fresh concerns over the outlook for global growth, after Fed Chairman Ben Bernanke said Friday that there was no need for an immediate round of additional economic stimulus but left options open.
In Japan, official data showed earlier that the unemployment rate rose for the second month in a row, while a separate report showed that retail sales rose less-than-expected in July.
The Statistics Bureau said the unemployment rate rose to 4.7% in last month, from 4.6% in June.
Meanwhile the Department of Trade said retail sales advanced 0.7% in July from a year earlier, less than the 1.3% expected gain.
The yen was also higher against the euro, with EUR/JPY shedding 0.40% to hit 111.00.
Later in the day, the U.S. was to release data on consumer confidence as well as an industry report on house price inflation. In addition, the Federal Reserve’s Open Market Committee was to publish the minutes of its August rate setting meeting.
USD/JPY hit 76.66 during late Asian trade, the daily low; the pair subsequently consolidated at 76.72, slipping 0.13%.
The pair was likely to find support at 76.29, the low of August 11 and resistance at 77.51, the high of August 26.
Market sentiment weakened amid fresh concerns over the outlook for global growth, after Fed Chairman Ben Bernanke said Friday that there was no need for an immediate round of additional economic stimulus but left options open.
In Japan, official data showed earlier that the unemployment rate rose for the second month in a row, while a separate report showed that retail sales rose less-than-expected in July.
The Statistics Bureau said the unemployment rate rose to 4.7% in last month, from 4.6% in June.
Meanwhile the Department of Trade said retail sales advanced 0.7% in July from a year earlier, less than the 1.3% expected gain.
The yen was also higher against the euro, with EUR/JPY shedding 0.40% to hit 111.00.
Later in the day, the U.S. was to release data on consumer confidence as well as an industry report on house price inflation. In addition, the Federal Reserve’s Open Market Committee was to publish the minutes of its August rate setting meeting.