Investing.com – The U.S. dollar edged down against the yen on Thursday, as markets focused on the Group of 20 economic summit expected to take place later in the day in South Korea.
USD/JPY hit 82.03 during European morning trade, a daily low; the pair subsequently consolidated at 82.19, shedding 0.09%.
The pair was likely to find support at 80.53, the low of November 9, and resistance at 82.79, Wednesday’s high.
Later in the day, G-20 leaders were to gather in Seoul, South Korea amid growing concerns about trade imbalances and currency controls. The summit was expected to be closely watched by investors following the Federal Reserve’s decision last week to buy its own debt to keep borrowing costs near zero, which attracted criticism from other G-20 leaders.
Meanwhile, Japan’s Cabinet Office said early Thursday that core machinery orders fell more-than-expected in September, declining by 10.3%, after rising by 10.1% in August.
Analysts expected Japanese core machinery orders to fall by 9.5% in September.
Elsewhere, the yen was up down against the euro, with EUR/JPY shedding 0.17% to hit 113.19.
On Thursday, markets in the U.S. are closed in observance of Veterans Day.
USD/JPY hit 82.03 during European morning trade, a daily low; the pair subsequently consolidated at 82.19, shedding 0.09%.
The pair was likely to find support at 80.53, the low of November 9, and resistance at 82.79, Wednesday’s high.
Later in the day, G-20 leaders were to gather in Seoul, South Korea amid growing concerns about trade imbalances and currency controls. The summit was expected to be closely watched by investors following the Federal Reserve’s decision last week to buy its own debt to keep borrowing costs near zero, which attracted criticism from other G-20 leaders.
Meanwhile, Japan’s Cabinet Office said early Thursday that core machinery orders fell more-than-expected in September, declining by 10.3%, after rising by 10.1% in August.
Analysts expected Japanese core machinery orders to fall by 9.5% in September.
Elsewhere, the yen was up down against the euro, with EUR/JPY shedding 0.17% to hit 113.19.
On Thursday, markets in the U.S. are closed in observance of Veterans Day.