Skip to main content

Weaker US ISM stymies USD/JPY ahead of 152 again

Yesterday, as noted here it was the weaker than forecast US ISM service sector index that ensured the USD/JPY was once again unable to crack that 152 level. The high seen just ahead of that release was set at 151.95. However, the ISM data sent it down to a low after that, at 151.58. It did recover modestly into the US close, where it later ended the session at 151.70. Given the corresponding rebound in the EUR/USD and GBP/USD, the USD/JPY could have arguably dropped back further than it did. Earlier today the dollar fell to a low at 151.54. Even the record gains in gold, above 2,300 today has not really dented the USD/JPY by that much. So, outside of the dollar the Japanese currency remains weak, especially on the major crosses. An interesting comment this morning from a former top Japanese official suggests the BOJ might not intervene unless the dollar climbs to 155 is open to debate though, but noted here all the same. The high seen earlier today was set at 151.72. The USD/JPY is currently trading at 151.63 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!