Investing.com - The U.S. dollar rose to one-week highs against the yen in thin trade on Monday, as concerns over a possible military strike against Syria continued to support demand for the safe-haven greenback.
USD/JPY hit 98.86 during early European trade, the pair's highest since August 23; the pair subsequently consolidated at 98.88, advancing 0.79%.
The pair was likely to find support at 97.88, the low of August 30 and resistance at 99.95, the high of August 2.
Concerns over a possible U.S. military intervention mounted after U.S. Secretary of State John Kerry said Friday that the U. S. would punish Syrian President Bashar al-Assad for a "brutal and flagrant" chemical weapons attack that killed nearly 1,500 people in Damascus.
The greenback's gains were limited however, after data on Friday showed that U.S. consumer sentiment was lower in August, pulling back from July’s six-year high. The final reading of the University of Michigan's consumer sentiment index slipped to 82.1 from a final reading of 85.1 in July.
In Japan, government data earlier showed that capital spending was flat in the second quarter, compared to expectations for a 2% decline, after a 3.9% drop in the three months to March.
The yen was lower against the euro with EUR/JPY gaining 0.85%, to hit 130.83.
Trading volumes were expected to remain light on Monday, with U.S. markets closed for the Labor Day holiday.
USD/JPY hit 98.86 during early European trade, the pair's highest since August 23; the pair subsequently consolidated at 98.88, advancing 0.79%.
The pair was likely to find support at 97.88, the low of August 30 and resistance at 99.95, the high of August 2.
Concerns over a possible U.S. military intervention mounted after U.S. Secretary of State John Kerry said Friday that the U. S. would punish Syrian President Bashar al-Assad for a "brutal and flagrant" chemical weapons attack that killed nearly 1,500 people in Damascus.
The greenback's gains were limited however, after data on Friday showed that U.S. consumer sentiment was lower in August, pulling back from July’s six-year high. The final reading of the University of Michigan's consumer sentiment index slipped to 82.1 from a final reading of 85.1 in July.
In Japan, government data earlier showed that capital spending was flat in the second quarter, compared to expectations for a 2% decline, after a 3.9% drop in the three months to March.
The yen was lower against the euro with EUR/JPY gaining 0.85%, to hit 130.83.
Trading volumes were expected to remain light on Monday, with U.S. markets closed for the Labor Day holiday.