EUR/USD flat on Greece stalemate, USD/JPY edges lower after Japan data

EUR/USD inched down 0.2 percent to 1.1181 and was mostly stuck within a tight 1.1235-1153 range for the third day. The pair is on track to end the week about 1.2 percent lower. After talks between Athens and its creditors failed to reach an agreement on Thursday, a further meeting of Eurozone finance ministers will be held on Saturday in a bid to achieve a breakthrough. Meanwhile, markets are cautious and not willing to enter new positions on this pair, keeping it in a range.

USD/JPY was trapped in a 124.38-122.56 yen range this week. The pair edged down 0.2 percent to 123.43 yen. Data on Thursday showed US consumer spending recorded its largest increase in nearly six years in May but this did not lift the USD. Meanwhile, the Japanese yen gained further in Asia on Friday after Japanese data on consumer prices, employment and household spending mostly came in better than expected.

EUR/JPY traded 138.58 to 137.80. GBP/JPY traded 194.69 to 193.98. AUD/JPY traded 95.64 to 95.10.

GBP/USD was steady between 1.5734-53 in Asia.

EUR/GBP was soggy, with the bias still down. The pair traded in the 0.7080-area.

USD/CHF traded between 0.9357-66 in a quiet Asian session.

EUR/CHF was slightly lower despite SNB Jordan promise of more intervention.

AUD/USD opened in Asia at 0.7739 and slipped to 0.7709. The weakness in AUD/JPY weighed. Risk aversion kept markets cautious.

NZD/USD was down to 0.6864. It bounced later to 0.6916 on good trade data but off again. The RBNZ Statement of Intent reiterates that a high NZD exchange rate is unjustified and unsustainable so this weighed on the kiwi.

The post EUR/USD flat on Greece stalemate, USD/JPY edges lower after Japan data appeared first on Forex Circles.

Source:: EUR/USD flat on Greece stalemate, USD/JPY edges lower after Japan data

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