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Forex - Yen a tad weaker before industrial production data

Published 11/12/2015, 05:22 PM
Updated 11/12/2015, 05:28 PM
Yen weaker before industrial production
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Investing.com - The yen traded a tad weaker ahead of industrial production figures on Friday with no other major regional data due and no clues from the Federal Reserve chief on the prospect for a rate hike next month.

USD/JPY changed hands at 122.65, up 0.04%, while AUD/USD traded at 0.7127, up 0.02%.

Japan reports industrial production with a gain of 1.)% seen month-on-month in September.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.04% to 98.61.

Overnight, the dollar trimmed gains against the other major currencies on Thursday, but still remained close to a seven-month peak after Federal Reserve Chair Janet Yellen omitted to comment on future monetary policy moves.

The dollar weakened mildly after Fed Chair Janet Yellen gave no indications on the near-term outlook for the U.S. economy or monetary policy in a speech on Thursday.

Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending November 7 was unchanged from a week earlier at 276,000. Analysts had expected jobless claims to fall by 6,000 to 270,000.

The greenback remained broadly supported as last week's strong U.S. employment data paved the way for the Federal Reserve to raise interest rates at its December meeting.

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