Investing.com – The U.S. dollar rose to an 8-month high against the yen on Tuesday as traders awaited key data on the U.S. housing market, and on the back of an upbeat report on the U.S. manufacturing sector.
USD/JPY hit 94.98 during the Asian trading session, its highest since Aug. 24 2009; the pair subsequently consolidated around 94.75, gaining 0.24%. USD/JPY was likely to find resistance at 97.78, the high of Aug. 7 last year, and support at 91.59, the low of April 19.
On Monday, industry data showed that The U.S. manufacturing sector grew in April at its fastest in almost six years and at a pace that exceeded forecasts.
The Japanese currency rose versus sterling, meanwhile, with GBP/JPY dropping 0.26% to reach 142.76.
Later Tuesday, the National Association of Realtors, a U.S. industry group, was due to publish a report on pending home sales, a leading indicator of the housing market's health and that of the entire U.S. economy.
USD/JPY hit 94.98 during the Asian trading session, its highest since Aug. 24 2009; the pair subsequently consolidated around 94.75, gaining 0.24%. USD/JPY was likely to find resistance at 97.78, the high of Aug. 7 last year, and support at 91.59, the low of April 19.
On Monday, industry data showed that The U.S. manufacturing sector grew in April at its fastest in almost six years and at a pace that exceeded forecasts.
The Japanese currency rose versus sterling, meanwhile, with GBP/JPY dropping 0.26% to reach 142.76.
Later Tuesday, the National Association of Realtors, a U.S. industry group, was due to publish a report on pending home sales, a leading indicator of the housing market's health and that of the entire U.S. economy.