Investing.com - The U.S. dollar slipped against the Japanese yen during Monday’s Asian session as mixed data points out of Japan and fears of U.S. government shutdown sent traders looking for safe-haven alternatives to the greenback.
In Asian trading Monday, USD/JPY dropped 0.42% to 97.83. The pair is likely to find support at 97.75, the low of September 18 and resistance at 99.03, Friday’s high. Last week, the pair lost 0.50%.
On Saturday, the Republican-controlled U.S. House of Representatives passed legislation that would delay the implementation of Obamacare, President Obama’s landmark health care package passed in 2010. The Republican measure also seeks to strip out of Obamacare a controversial tax on medical device manufacturers.
However, Senate Majority Leader Harry Reid, a Nevada Democrat, has promised his chamber will veto the House legislation. Reid has been vocal in saying the Senate will not pass any budget stop-gap measure that includes significant alterations to Obamacare.
The budget battle sent the U.S. Dollar Index and S&P 500 futures lower during Monday’s Asian session.
Earlier Monday, Japan’s Ministry of Economy, Trade and Industry said that industrial production there fell 0.7% last month after a 3.4% jump in the prior month. Analysts expected industrial production to slid 0.4% last month.
Separately, the Ministry of Economy Trade and Industry said that Japanese retail sales rose 1.1% last month after a 0.3% decline in the previous month. Analysts expected retail sales to increase 1% last month.
Elsewhere, EUR/JPY slipped 0.56% to 132.11 on news of rising political tensions in Italy, the euro zone’s third-largest economy.
AUD/JPY lost 0.51% to 91.06 after the Reserve Bank of Australia said Australian private sector credit rose 0.3% last month after a 0.4% rise in the previous month. Analysts expected a 0.4% increase last month.
In Asian trading Monday, USD/JPY dropped 0.42% to 97.83. The pair is likely to find support at 97.75, the low of September 18 and resistance at 99.03, Friday’s high. Last week, the pair lost 0.50%.
On Saturday, the Republican-controlled U.S. House of Representatives passed legislation that would delay the implementation of Obamacare, President Obama’s landmark health care package passed in 2010. The Republican measure also seeks to strip out of Obamacare a controversial tax on medical device manufacturers.
However, Senate Majority Leader Harry Reid, a Nevada Democrat, has promised his chamber will veto the House legislation. Reid has been vocal in saying the Senate will not pass any budget stop-gap measure that includes significant alterations to Obamacare.
The budget battle sent the U.S. Dollar Index and S&P 500 futures lower during Monday’s Asian session.
Earlier Monday, Japan’s Ministry of Economy, Trade and Industry said that industrial production there fell 0.7% last month after a 3.4% jump in the prior month. Analysts expected industrial production to slid 0.4% last month.
Separately, the Ministry of Economy Trade and Industry said that Japanese retail sales rose 1.1% last month after a 0.3% decline in the previous month. Analysts expected retail sales to increase 1% last month.
Elsewhere, EUR/JPY slipped 0.56% to 132.11 on news of rising political tensions in Italy, the euro zone’s third-largest economy.
AUD/JPY lost 0.51% to 91.06 after the Reserve Bank of Australia said Australian private sector credit rose 0.3% last month after a 0.4% rise in the previous month. Analysts expected a 0.4% increase last month.