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USD/JPY2014-09-02 10:07 UTC

USD-JPY surged amid general dollar outperformance and general yen underperformance, with the latter declining on the view that the BoJ is heading for fresh monetary stimulus to counter the impact of the sales tax hike. The pair surged to an eight-month peak of 104.97, bringing in January's major-trend peak at 105.44 into scope. EUR-JPY hit nine-day highs while AUD-JPY logged a new 16-month peak. Support is now marked at 104.27-30, ahead of ... Read More 

XE Market Analysis

  • North American Edition2014-09-02 10:07 UTC

    The dollar has continued to ascend, with EUR-USD making a fresh one-year low of 1.3114 so far, USD-JPY making a new eight-month peak three pips shy of the 105.00 level, and Cable making six-month lows, despite a strong construction PM survey out of the U.K. The dop in Eurozone PPI to -1.1% y/y aided EUD-USD lower, while yesterday's weak manufacturing PMI data out of the Eurozone, U.K. and China have also given the greenback an indirect underpinning, while ... Read More 

  • European Edition2014-09-02 06:47 UTC

    The dollar extended gains in the pre-European session in Asia. This follows yesterday's move, where weak PMI data out of the Eurozone, U.K. and China gave the greenback an underpinning. EUR-USD made a fresh one-year low at 1.3114, and Cable more than reversed the rebound of yesterday in dipping back below 1.6600 to 1.6577. USD-JPY was the clear outperformer as the yen once against underperformed on the view that the BoJ is heading for fresh monetary ... Read More 

  • Asian Edition2014-09-01 15:47 UTC

    The dollar remained underpinned, which we expect to remain the case into Friday's August U.S. employment report, posting a one-year high against the euro and a seven-month peak versus the yen. EUR-USD's low was 1.3119, which was seen in Asian trade, before the euro settled near net unchanged levels around 1.3135-45. Eurozone August final manufacturing PMI was revised down to 50.7 from 51.8 in the preliminary reading, down from 51.8 in July. U.K. PMI and ... Read More 

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