NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Forex - Dollar rises to more than 1-week highs vs. yen

Published 05/13/2014, 02:28 AM
Dollar advances to more than 1-week highs against yen
EUR/USD
-
USD/JPY
-
EUR/JPY
-

Investing.com - The dollar rose to more than one-week highs against the yen on Tuesday as strong gains in Asian equities markets overnight dampened safe haven demand for the Japanese currency.

USD/JPY hit highs of 102.32, the most since May 2 and was last up 0.16% to 102.28.

The pair was likely to find support at 101.78, Monday’s low and resistance at 102.65.

Japan’s Nikkei rose 1.95% on Tuesday after the Dow Jones and the S&P 500 closed at record highs on Monday, as indications that the U.S. economy is improving and strong earnings results fuelled a stock market rally.

The dollar shrugged off data showed that industrial production and retail sales in China slowed slightly in April, adding to concerns over a slowdown in the world’s second-largest economy.

The U.S. was to release data on retail sales later in the trading day.

Elsewhere, the euro rose to its highest level in three sessions against the yen, with EUR/JPY rising 0.22% to 140.78.

The euro’s gains were held in check after the European Central Bank indicated last week that it could begin to ease monetary policy as soon as its next meeting in June, to combat persistently low inflation in the euro zone.

The euro was little changed against the dollar, with EUR/USD trading at 1.3762.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.