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2 Jun 2015
USD/JPY drops to 123.75 and rebounds
FXStreet (Córdoba) - Greenback weakened sharply across the board and pushed USD/JPY to the downside. The pair bottomed during the American session at 123.73, the lowest level since last Friday and then bounced to the upside, trimming losses.
USD/JPY worst day since May 13
The pair was able to move off session lows and rose back above 124.00. currently is trading at 124.15/20, down 0.45% for the day so far. The US dollar is having the worst performance against the yen since May 13, retreating after hitting earlier multi-year highs above 125.00.
Weak economic data from the US favoured the downside in USD/JPY. Factory orders dropped 0.4% in April versus expectations of a flat reading, while the IBD/TIPP Economic Optimism index dropped from 49.7 to 48.1, below the 49.8 expected by analysts.
USD/JPY worst day since May 13
The pair was able to move off session lows and rose back above 124.00. currently is trading at 124.15/20, down 0.45% for the day so far. The US dollar is having the worst performance against the yen since May 13, retreating after hitting earlier multi-year highs above 125.00.
Weak economic data from the US favoured the downside in USD/JPY. Factory orders dropped 0.4% in April versus expectations of a flat reading, while the IBD/TIPP Economic Optimism index dropped from 49.7 to 48.1, below the 49.8 expected by analysts.