USD/JPY gains in quiet session, targeting 122.00
USD/JPY extended gains in Asia on Tuesday, up from 121.52 to 121.80. The yen did not rise despite data from Japan showing that the corporate services price index rose 0.7% in April, better than the gain of 0.6% expected year-on-year. The key 122.00 level comes into view now for USD/JPY. GBP/JPY was stead between 187.80-188.20 and AUD/JPY traded 95.00-95.42.
EUR/JPY on the other hand went the other way, falling even further from 133.45 to 133.10. This is due to broad Euro weakness as a result of concerns over Greece.
EUR/USD remains weak due to diverging Fed-ECB expectations and the Greek saga. EUR/USD opened in Asia at 1.0978 and fell to 1.0929. EUR/GBP slipped from 0.7095 to 0.7074.
GBP/USD was heavy on broad USD strength in Asia, down from 1.5475 to 1.5432.
USD/CHF was helped higher thanks to the firm dollar, up from 0.9451 to 0.9474.
AUD/USD opened in Asia at 0.7825, traded between 0.7813-35. Volumes were low following the US Memorial Day holiday and the UK and Germany holidays.
NZD/USD opened in Asia at 0.7311, trading a small range between 0.7299-0.7322. New Zealand trade data was shrugged off in a quiet session.
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