Investing.com - The U.S. dollar trimmed gains against the yen on Tuesday, pulling back from a session high but the safe haven greenback remained supported as markets eyed the outcome of Greek debt talks.
USD/JPY pulled back from 76.78, the daily high, to hit 76.64 during late Asian trade, still up 0.12%.
The pair was likely to find support at 76.48, the low of September 30 and resistance at 76.79, Monday’s high.
Markets were jittery as Greek Prime Minister Lucas Papademos was to meet with coalition leaders later in the day to discuss the implementation of additional fiscal measures needed to secure a second bailout, after failing to strike a deal on Monday.
European Union officials have said a final agreement on Greece’s EUR130 billion bailout must be approved by February 15, in order to avert a default when a EUR14.5 billion bond repayment comes due on March 20.
But the dollar remained supported after Finance Minister Jun Azumi repeated earlier that Japan will not rule out any steps to battle speculative moves in the yen.
The yen was also lower against the euro with EUR/JPY adding 0.21%, to hit 100.72.
Later in the day, Federal Reserve Chairman Ben Bernanke was due to testify on the economic outlook and federal budget situation before the Senate Budget Committee in Washington.
USD/JPY pulled back from 76.78, the daily high, to hit 76.64 during late Asian trade, still up 0.12%.
The pair was likely to find support at 76.48, the low of September 30 and resistance at 76.79, Monday’s high.
Markets were jittery as Greek Prime Minister Lucas Papademos was to meet with coalition leaders later in the day to discuss the implementation of additional fiscal measures needed to secure a second bailout, after failing to strike a deal on Monday.
European Union officials have said a final agreement on Greece’s EUR130 billion bailout must be approved by February 15, in order to avert a default when a EUR14.5 billion bond repayment comes due on March 20.
But the dollar remained supported after Finance Minister Jun Azumi repeated earlier that Japan will not rule out any steps to battle speculative moves in the yen.
The yen was also lower against the euro with EUR/JPY adding 0.21%, to hit 100.72.
Later in the day, Federal Reserve Chairman Ben Bernanke was due to testify on the economic outlook and federal budget situation before the Senate Budget Committee in Washington.