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:
Greenback keeps to 4-month minimums ahead of American data
On Friday, the evergreen buck was keeping to four-month minimums versus other key currencies because Thursday's dismal American economic reports still put pressure on the US currency and market participants closely watched the publication of major US retail sales as well as inflation data due later in the day.
The greenback was pressured after on Thursday the US Department of Labor reported that initial jobless claims tacked on to 261,000 the previous week versus hopes for a sag to 246,000.
The previous month a separate report disclosed that the producer price index dived 0.1%, thus ruining hopes for a 0.2% soar.
The American currency had gained ground right after China’s foreign exchange regulator told that a report about Beijing slowing or even stopping its American bond purchasing might be built around erroneous information.
The euro gained, with EUR/USD adding 0.17% hitting 1.2052, GBP/USD stood still at 1.3547.
The Japanese yen was intact, with USD/JPY being worth 111.31.
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