How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Asian currencies go down
On Tuesday, the Japanese yen seesawed in rather a narrow range in Asia, just a day after reaching four month minimums versus the greenback, with most Asian currencies staying subdued.
The Japanese yen was at 114.20 by mid-morning, regaining some lost ground, with a dipping in machine order as well as soft current account figures putting pressure on traders.
Meanwhile, the Chinese Yuan stood still. The PBOC enabled the national currency to trade at 6.8045, giving up 0.04% versus the greenback.
The South Korean won inched down 0.09% during early morning trade, hitting 1150.500 versus the USD.
On Friday, the US currency managed to grow versus a basket of the other key currencies on Friday after data disclosing that the American economy generated jobs at a robust pace the previous month backed expectations for a third lift by the Fed in 2017.
The previous month the American economy generated 222,000 jobs as the Labor Department informed, surpassing expectations.
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