FOREX TradingCharts.com

Forex News: Yen Climbs On Rising Risk Aversion

Yen Climbs On Rising Risk Aversion

06/25/2019 - 03:08:00 (RTTNews)

(RTTNews) - The Japanese yen firmed against its major counterparts in the Asian session on Tuesday amid rising risk aversion, as investors await U.S.-China trade talks at the G20 summit this weekend.

Investors look for signs of de-escalation in the trade war, though it is too soon to talk about a deal or a breakthrough.

Geopolitical tensions also remained firmly in focus after U.S. President Donald Trump targeted Iranian Supreme Leader Ayatollah Ali Khamenei and other Iranian senior officials with new sanctions on Monday.

In economic news, the Bank of Japan said that producer prices in Japan were up 0.8 percent on year in May. That was shy of expectations for an increase of 1.0 percent and down from the upwardly revised 1.0 percent gain in April.

Members of the Bank of Japan's Monetary Policy Board said that the country's economy continues to expand at a moderate pace, minutes from the central bank's April 24-25 meeting revealed. They added that while inflation is still weaker than expected, it is on pace to increase gradually. The bank will continue to provide stimulus by expanding the monetary base until the annual inflation goal of 2 percent is reached.

The yen appreciated to 4-day highs of 136.14 against the pound and 121.85 against the euro, from its early low of 136.84 and near a 2-week low of 122.47, respectively. The next possible resistance for the yen is seen around 134.5 against the pound and 120.00 against the euro.

The yen edged higher to 74.34 against the aussie and 71.00 against the kiwi, reversing from its early near 2-week lows of 74.86 and 71.27, respectively. If the yen rises further, 73.00 and 69.00 are likely seen as its next possible resistance levels against the aussie and the kiwi, respectively.

Easing off from its early low of 107.41 against the greenback and a 4-day low of 81.50 against the loonie, the yen advanced to near a 6-month high 106.78 and a 6-day high of 80.99, respectively. The yen is likely to challenge resistance around 104.5 against the greenback and 79.00 against the loonie.

The Japanese currency gained to 110.04 against the franc, from a low of 110.49 seen at 8:00 pm ET. Next key resistance for the yen is seen around the 108.00 level.

Looking ahead, Canada wholesale sales for April, U.S. new home sales for May, S&P/Case-Shiller home price index for April and consumer confidence index for June will be featured in the New York session.

At 1:00 pm ET, Fed Chairman Jerome Powell will give a speech about the economic outlook and monetary policy at the Council on Foreign Relations in New York.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Pound Weakens As Johnson Likely To Win Tory Leadership Contest (45 min(s), 16 sec(s) ago)
(RTTNews) - The pound drifted lower against its major counterparts in the European session on Mond ...Full Story»

Australian Dollar Slides On Risk Aversion (04 hr(s), 15 min(s), 15 sec(s) ago)
(RTTNews) - The Australian dollar weakened against its major counterparts in the Asian session on ...Full Story»

Dollar Drops After U.S. Consumer Sentiment Index (35 min(s), 44 sec(s) ago)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for July has bee ...Full Story»

Dollar Mixed Ahead Of U.S. Consumer Sentiment Index (29 min(s), 44 sec(s) ago)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for July is sche ...Full Story»

Canadian Dollar Drops On Dismal Retail Sales (14 min(s), 44 sec(s) ago)
(RTTNews) - The Canadian dollar slipped against its major counterparts in the European session on ...Full Story»

Loonie Falls After Canada Retail Sales (05 min(s), 44 sec(s) ago)
(RTTNews) - Following the release of Canada retail sales for May at 8:30 am ET Friday, the loonie ...Full Story»

Loonie Mixed Ahead Of Canada Retail Sales (59 min(s), 44 sec(s) ago)
(RTTNews) - Canada retail sales for May are due from Statistics Canada at 8:30 am ET Friday. Ahead ...Full Story»

Pound Little Changed After UK Public Sector Finance Data (02 hr(s), 54 min(s), 16 sec(s) ago)
(RTTNews) - Following the release of UK public sector finance data for June at 4.30 am ET Friday, ...Full Story»

Search

FOREX NEWS

Pound Weakens As Johnson Likely To Win Tory Leadership Contest

07/22/2019 - 06:44 AM (RTTNews)
(RTTNews) - The pound drifted lower against its major counterparts in the European session on Mond ...Full Story>>

Australian Dollar Slides On Risk Aversion

07/22/2019 - 03:14 AM (RTTNews)
(RTTNews) - The Australian dollar weakened against its major counterparts in the Asian session on ...Full Story>>

Dollar Drops After U.S. Consumer Sentiment Index

07/19/2019 - 10:04 AM (RTTNews)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for July has bee ...Full Story>>

Dollar Mixed Ahead Of U.S. Consumer Sentiment Index

07/19/2019 - 09:57 AM (RTTNews)
(RTTNews) - The University of Michigan's preliminary consumer sentiment index for July is sche ...Full Story>>

Canadian Dollar Drops On Dismal Retail Sales

07/19/2019 - 09:44 AM (RTTNews)
(RTTNews) - The Canadian dollar slipped against its major counterparts in the European session on ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.