Thursday, 17 January 2013

USD/JPY – Yen Continues to Improve, Tests 88 Line

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More at http://daily20pips.blogspot.com/2013/01/gemma-merna-unleashes-her-appealing.html

The Japanese yen, which has taken a beating from the US dollar since early December, continues to show strength. The yen has managed to reverse direction and is trading in the 88.20 range, after briefly pushing below the 88 line in Wednesday’s European session.  The markets continue to analyse US numbers from releases on Tuesday. Retail sales numbers were positive, but manufacturing data looked very weak. In Japan, Core Machinery Orders posted their highest gain since September 2012, but Consumer Confidence was well below expectations. Today’s key release is US Core CPI.

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