USDJPY bounces off one-month lows; gold at 3-week high

The dollar remained firm after being boosted by better U.S. initial jobless claims data that were out on Thursday and showed a drop in applications for unemployment benefits.

The dollar index added 0.3 percent to 94.185, pulling away from Wednesday’s trough of 93.425, its lowest since May 11, and was up 0.2 percent for the week.

USDJPY rose to 107.25 yen in Asian trading, moving off yesterday’s one-month low of 106.24 yen.

EURUSD slid 0.2 percent to $1.1298, further distancing itself from yesterday’s one-month high of $1.1416.

Oil prices eased back from a near 12-month high as the dollar reversed its recent trend. The stronger dollar kept crude below the 2016 highs reached this week.

Brent crude, the international benchmark, traded at $51.96 per barrel while West Texas Intermediate was around $50.56 a barrel.

The fading expectation of a Fed rate hike this month has been a boost for gold. The precious metal hovered near a three-week high, and on track for a second straight weekly rise. Gold prices traded around $1,266.86 an ounce on Friday, after climbing as high as $1,271.31 yesterday. The commodity is up 1.8 percent for the week.

The post USDJPY bounces off one-month lows; gold at 3-week high appeared first on FXTM Blog.

Source:: USDJPY bounces off one-month lows; gold at 3-week high

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