Investing.com - The U.S. dollar was lower against the yen on Thursday, as risk sentiment weakened amid sustained concerns over the outlook for the euro zone but the greenback remained supported by diminished expectations for further monetary easing by the Federal Reserve.
USD/JPY hit 82.12 during early European trade, the daily low; the pair subsequently consolidated at 82.29, falling 0.22%.
The pair was likely to find support at 81.82, the low of March 30 and resistance at 82.63, the high of March 9.
Safe haven demand strengthened on Wednesday as the cost of insuring Spain’s debt against default climbed after a disappointing government bond auction added to concerns that Spain may be the next euro zone member to require a bailout.
Markets were also jittery after data confirmed that the euro zone service sector contracted for the sixth time in seven months in March, while retail sales fell by 0.1% in February, against expectations for a 0.1% increase.
Meanwhile, the greenback remained supported by diminished expectations for another round of easing from the Federal Reserve, and after data on Wednesday showed that the U.S. private sector added more jobs than expected in March.
Payroll processing firm ADP reported that the U.S. private sector added 209,000 jobs last month, outstripping expectations for an increase of 200,000.
The yen was also higher against the euro with EUR/JPY declining 0.14%, to hit 108.22.
Later in the day, the U.S. was to publish government data on unemployment claims.
USD/JPY hit 82.12 during early European trade, the daily low; the pair subsequently consolidated at 82.29, falling 0.22%.
The pair was likely to find support at 81.82, the low of March 30 and resistance at 82.63, the high of March 9.
Safe haven demand strengthened on Wednesday as the cost of insuring Spain’s debt against default climbed after a disappointing government bond auction added to concerns that Spain may be the next euro zone member to require a bailout.
Markets were also jittery after data confirmed that the euro zone service sector contracted for the sixth time in seven months in March, while retail sales fell by 0.1% in February, against expectations for a 0.1% increase.
Meanwhile, the greenback remained supported by diminished expectations for another round of easing from the Federal Reserve, and after data on Wednesday showed that the U.S. private sector added more jobs than expected in March.
Payroll processing firm ADP reported that the U.S. private sector added 209,000 jobs last month, outstripping expectations for an increase of 200,000.
The yen was also higher against the euro with EUR/JPY declining 0.14%, to hit 108.22.
Later in the day, the U.S. was to publish government data on unemployment claims.