USD/JPY extends gains to 2-month high on Yellen and CPI

Posted On 25 May 2015

Tag: AUDUSD, EUR/CHF, EURJPY, EURUSD, GBPUSD, NZDUSD, USDJPY

USD/JPY extended Friday’s gains and rose to a high of 121.78 to beat Friday’s high of 121.58. The main catalyst behind USD strength was Federal Reserve Chair Janet Yellen’s comments on Friday that the Fed would raise interest rates later this year if the economy improves. EUR/JPY traded between133.32-75. Data from Japan today shows that the nation swung back to a trade deficit in April after the first surplus in almost three years in March, but the shortfall shrank drastically year-on-year. The monthly deficit came in at 53.4 billion yen but the shortfall shrank drastically and it was smaller than the 318.9 billion deficit expected.

EUR/USD opened in Asia at 1.1007, off from Friday’s New York close of 1.1017 and the bias remains to the downside. Volumes on Monday are expected to be low due to closed markets because of the public holiday in the UK and most of Europe. EUR/GBP traded between 0.7089-0.7108. EUR/CHF traded between 1.0360-86.

GBP/USD edged lower after the US CPI data and Fed Chair Janet Yellen speech. Cable held losses in Asia between 1.5460-89.

USD/CHF consolidated Friday gains, trading in a range of 0.9426-53. The high Friday hit 0.9456.

AUD/USD opened in Asia at 0.7830, trading between 0.7804-32, weighed down by the firm USD after US CPI and Yellen comments. Support is seen at 0.7800.

NZD/USD opened in Asia at 0.7295, remained week, trading traded between 0.7293-0.7316 in thin markets.

The post USD/JPY extends gains to 2-month high on Yellen and CPI appeared first on Forex Circles.

Source:: USD/JPY extends gains to 2-month high on Yellen and CPI

About the Author

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC. Our mission is to maximize the value our clients derive from their most precious commodity, "Time"! By offering advanced and innovative services, optimal customer care and perpetual devotion to our clients, we will ensure that their individual needs are always met as markets continue to evolve over time. Visit ForexTime to learn more www.forextime.com [space height="20"] [social type="facebook"]https://www.facebook.com/ForexTime[/social] [social type="twitter"]https://twitter.com/ItsForexTime[/social] [social type="google-plus"]https://plus.google.com/u/0/+ForextimeFXTM/posts[/social] [social type="youtube"]https://www.youtube.com/user/ItsForexTime[/social]