Investing.com - The U.S. dollar rose against the Japanese yen during Monday’s Asian session following the releasing of bullish second-quarter tankan manufacturing data.
In Asian trading Monday, USD/JPY rose 0.17% to 99.35 after earlier trading as high as 99.55. The pair is likely to find support at 98.32, Friday’s low and resistance at 100.45, the high of June 5.
Last Friday, USD/JPY rose to session highs of 99.45, the pair’s highest since June 6, before settling at 99.11, up 0.83% for the day and extending the week’s gains to 1.23%.
Earlier Monday, the Bank of Japan's tankan survey showed surprisingly positive sentiment among large manufacturers in the world’s third-largest economy. The sentiment reading for large manufacturing enterprises jumped to 4 from a previous reading of -8. Economists expected readings ranging from 3 to 4.
The reading applies to the second quarter and is the first positive reading in two years. Sentiment among large non-manufacturers jumped to 12 from 6 in the first quarter. The survey also showed sentiment among mid-sized manufacturers improved to -4 from -14.
In U.S. economic news out last Friday, the Thomson Reuters/University of Michigan's final reading on June U.S. consumer sentiment was 84.1, well above the initial reading of 82.7. Economists expected a final June reading of 82.8.
Chicago are PMI fell to a 51.6 reading from 58.7 in May. Economists expected a June reading of 55. Readings above 50 indicate expansion.
Elsewhere, EUR/JPY added 0.22% to 129.33 while AUD/JPY jumped 0.39% to 91.02. NZD/JPY rose 0.28% to 77.02.
In Asian trading Monday, USD/JPY rose 0.17% to 99.35 after earlier trading as high as 99.55. The pair is likely to find support at 98.32, Friday’s low and resistance at 100.45, the high of June 5.
Last Friday, USD/JPY rose to session highs of 99.45, the pair’s highest since June 6, before settling at 99.11, up 0.83% for the day and extending the week’s gains to 1.23%.
Earlier Monday, the Bank of Japan's tankan survey showed surprisingly positive sentiment among large manufacturers in the world’s third-largest economy. The sentiment reading for large manufacturing enterprises jumped to 4 from a previous reading of -8. Economists expected readings ranging from 3 to 4.
The reading applies to the second quarter and is the first positive reading in two years. Sentiment among large non-manufacturers jumped to 12 from 6 in the first quarter. The survey also showed sentiment among mid-sized manufacturers improved to -4 from -14.
In U.S. economic news out last Friday, the Thomson Reuters/University of Michigan's final reading on June U.S. consumer sentiment was 84.1, well above the initial reading of 82.7. Economists expected a final June reading of 82.8.
Chicago are PMI fell to a 51.6 reading from 58.7 in May. Economists expected a June reading of 55. Readings above 50 indicate expansion.
Elsewhere, EUR/JPY added 0.22% to 129.33 while AUD/JPY jumped 0.39% to 91.02. NZD/JPY rose 0.28% to 77.02.