Investing.com - The U.S. dollar was steady against the yen on Thursday, as markets continued to focus on developments in the euro zone amid sustained concerns over the handling of the debt crisis in Spain and in Greece.
USD/JPY hit 77.64 during European morning trade, the daily low; the pair subsequently consolidated at 77.70, easing 0.05%.
The pair was likely to find support at 77.51, the low of September 14 and resistance at 77.90, Wednesday's high.
Investors eyed events in Spain later Thursday, as the government was to present its draft budget for next year and announce structural reforms, while the results of bank stress tests are due on Friday.
But sentiment was under pressure as Madrid remained reluctant to request a bailout and trigger the European Central Bank's new bond-buying program.
Demonstrators clashed with police on the streets of Athens and Madrid this week in an upsurge of popular anger at new austerity measures being imposed on two of the euro zone's most vulnerable economies.
Elsewhere, the yen was almost unchanged against the euro with EUR/JPY dipping 0.03%, to hit 100.05.
Also Thursday, the People’s Bank of China was reported to have injected a record CNY365 billion, or USD58 billion, this week into the Chinese banking system, easing liquidity conditions ahead of the end of the current quarter and before the Golden Week holidays next week.
Later in the day, the U.S. was to publish government data on durable goods orders, as well as a weekly report on unemployment claims and revised data on second quarter economic growth. The country was also to produce industry data on pending homes sales.
USD/JPY hit 77.64 during European morning trade, the daily low; the pair subsequently consolidated at 77.70, easing 0.05%.
The pair was likely to find support at 77.51, the low of September 14 and resistance at 77.90, Wednesday's high.
Investors eyed events in Spain later Thursday, as the government was to present its draft budget for next year and announce structural reforms, while the results of bank stress tests are due on Friday.
But sentiment was under pressure as Madrid remained reluctant to request a bailout and trigger the European Central Bank's new bond-buying program.
Demonstrators clashed with police on the streets of Athens and Madrid this week in an upsurge of popular anger at new austerity measures being imposed on two of the euro zone's most vulnerable economies.
Elsewhere, the yen was almost unchanged against the euro with EUR/JPY dipping 0.03%, to hit 100.05.
Also Thursday, the People’s Bank of China was reported to have injected a record CNY365 billion, or USD58 billion, this week into the Chinese banking system, easing liquidity conditions ahead of the end of the current quarter and before the Golden Week holidays next week.
Later in the day, the U.S. was to publish government data on durable goods orders, as well as a weekly report on unemployment claims and revised data on second quarter economic growth. The country was also to produce industry data on pending homes sales.