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:
Aussie earns further in Asia
On Monday, the Australian dollar ascended further in Asia, and the evergreen buck kept an edge on the Japanese yen with construction data for July backing views in Australia as well as decent FX reserves in Japan seen.
The currency pair AUD/USD hit 0.7945, soaring 0.20%, USD/JPY reached 110.74, jumping 0.04%.
The AIG Construction index leapt to 60.5 in July versus June’s reading of 56.0. Japan posted its July’s foreign reserves data with $1.260 trillion versus $1.250 trillion in June.
The US dollar index, which estimates the US dollar’s value versus a basket of six main currencies, dived 0.11% hitting 93.27.
The previous week, the greenback went up versus a basket of the other key currencies, underpinned by a steady American jobs report for July as well as comments by a Trump administration official as for tax reform.
As the Labor Department informed on Friday, the American economy managed to generate up to 209,000 jobs the previous month, surpassing expectations for a 183,000 gain, while the unemployment rate sagged to 4.3%.
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