Investing.com - The U.S. dollar slipped lower against the yen on Friday, as demand for the greenback remained under broad selling pressure amid growing expectations for the Federal Reserve to hold back from tapering its stimulus program until well into next year.
USD/JPY hit 96.95 during early European trade, the pair's lowest since October 9; the pair subsequently consolidated at 97.05, slipping 0.23%.
The pair was likely to find support at 96.57, the low of October 7 and resistance at 97.64, the high of October 9.
The dollar remained under pressure after disappointing U.S. employment reports added to expectations that the Fed will delay tapering its stimulus program until next year amid concerns over the impact of the 16-day U.S. government shutdown on the economic recovery.
On Thursday, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits declined by 12,000 last week to a seasonally adjusted 350,000. Analysts had expected U.S. jobless claims to fall by 22,000 to 340,000 last week.
The report came after data earlier in the week showed that U.S. jobs growth slowed in September.
In Japan, official data showed that the Tokyo core consumer price index, which excludes fresh food, rose by an annualised rate of 0.3% in October, in line with expectations, after a 0.2% rise the previous month.
The yen was higher against the euro with EUR/JPY edging down 0.17%, to hit 134.03.
Later in the day, the U.S. was to produce data on durable goods orders, as well as revised data on consumer sentiment from the University of Michigan.
USD/JPY hit 96.95 during early European trade, the pair's lowest since October 9; the pair subsequently consolidated at 97.05, slipping 0.23%.
The pair was likely to find support at 96.57, the low of October 7 and resistance at 97.64, the high of October 9.
The dollar remained under pressure after disappointing U.S. employment reports added to expectations that the Fed will delay tapering its stimulus program until next year amid concerns over the impact of the 16-day U.S. government shutdown on the economic recovery.
On Thursday, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits declined by 12,000 last week to a seasonally adjusted 350,000. Analysts had expected U.S. jobless claims to fall by 22,000 to 340,000 last week.
The report came after data earlier in the week showed that U.S. jobs growth slowed in September.
In Japan, official data showed that the Tokyo core consumer price index, which excludes fresh food, rose by an annualised rate of 0.3% in October, in line with expectations, after a 0.2% rise the previous month.
The yen was higher against the euro with EUR/JPY edging down 0.17%, to hit 134.03.
Later in the day, the U.S. was to produce data on durable goods orders, as well as revised data on consumer sentiment from the University of Michigan.