FOREX TradingCharts.com

Forex News: Yen Trades Lower Amid Risk Appetite

Yen Trades Lower Amid Risk Appetite

02/08/2021 - 02:51:00 (RTTNews)

(RTTNews) - The Japanese yen traded lower against its major rivals in the Asian session on Monday, as Asian stock markets climbed following the record closing highs on Wall Street Friday after a weak U.S. jobs data increased odds of further U.S. stimulus.

The House of Representatives approved a budget proposal on Friday, setting the stage for passage of the President's $1.9 trillion COVID-19 relief package.

House Speaker Nancy Pelosi said that she would push for rapid approval of the plan.

Investors cheered positive earnings reports, the drop in new coronavirus cases and progress in the rollout of vaccines.

Data from the Ministry of Finance showed that Japan had a current account surplus of 1,165.6 billion yen in December, up 113.9 percent on year. That beat expectations for a surplus of 1,040 billion yen following the 1,878.4 billion yen surplus in the previous month.

Exports were up 0.3 percent on year to 6,561.5 billion yen after sinking 3.4 percent in November. Imports fell an annual 13.5 percent to 5,596.4 billion yen after dropping 13.6 percent in the previous month.

Japan's trade surplus was 965.1 billion yen, up from 616.1 billion yen a month earlier.

Data from the Bank of Japan showed that overall bank lending in Japan was up 6.1 percent on year in January, coming in at 578.083 trillion yen.

That's down from 6.2 percent in December.

The yen slipped to 1-week lows of 127.07 against the euro and 117.30 against the franc, after rising to 126.74 and 116.98, respectively in early deals. The currency is likely to find support around 129.00 against the euro and 119.5 against the franc.

The yen weakened to near 1-year lows of 82.68 against the loonie and 144.93 against the pound, off its early highs of 82.48 and 144.40, respectively. The currency is seen finding support around 84.00 against the loonie and 147.00 against the pound.

Reversing from its prior highs of 80.75 against the aussie and 75.70 against the kiwi, the yen slipped to more than a 2-year low of 81.01 and near a 2-year low of 76.03, respectively. Next likely support for the yen is seen around 84.00 against the aussie and 78.00 against the kiwi.

The yen fell to 105.55 against the greenback, from a high of 105.31 hit at 5:00 pm ET. Should the yen slides further, 108.00 is possibly seen as its next support level.

Looking ahead, Eurozone Sentix investor sentiment index for February is due in the European session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Little Changed After U.S. GDP Data (11 hr(s), 02 min(s), 21 sec(s) ago)
(RTTNews) - U.S. durable goods orders for January, GDP data for the fourth quarter and weekly jobl ...Full Story»

Dollar Mixed Ahead Of U.S. GDP Data (11 hr(s), 11 min(s), 22 sec(s) ago)
(RTTNews) - U.S. durable goods orders for January, GDP data for the fourth quarter and weekly jobl ...Full Story»

Euro Strengthens As Eurozone Economic Confidence Improves, European Shares Rally (12 hr(s), 02 min(s), 21 sec(s) ago)
(RTTNews) - The euro moved higher against its major counterparts in the European session on Thursd ...Full Story»

Euro Little Changed After Eurozone Economic Confidence Index (14 hr(s), 29 min(s), 22 sec(s) ago)
(RTTNews) - At 5.00 am ET Thursday, the European Commission has released economic and business sen ...Full Story»

Euro Climbs Ahead Of Eurozone Economic Confidence Index (14 hr(s), 41 min(s), 22 sec(s) ago)
(RTTNews) - At 5.00 am ET Thursday, the European Commission is scheduled to issue economic and bus ...Full Story»

Australian Dollar Rises, U.S. Dollar Falls On Fed Optimism (15 hr(s), 41 min(s), 22 sec(s) ago)
(RTTNews) - The Australian dollar climbed against its major counterparts in the Asian session on T ...Full Story»

Euro Little Changed After German Gfk Consumer Sentiment Index (17 hr(s), 32 min(s), 21 sec(s) ago)
(RTTNews) - At 2.00 am ET Thursday, the market research group Gfk has released Germany's consu ...Full Story»

Euro Mixed Ahead Of German Gfk Consumer Sentiment Index (17 hr(s), 38 min(s), 22 sec(s) ago)
(RTTNews) - At 2.00 am ET Thursday, the market research group Gfk releases Germany's consumer ...Full Story»

Search

FOREX NEWS

Dollar Little Changed After U.S. GDP Data

02/25/2021 - 08:37 AM (RTTNews)
(RTTNews) - U.S. durable goods orders for January, GDP data for the fourth quarter and weekly jobl ...Full Story>>

Dollar Mixed Ahead Of U.S. GDP Data

02/25/2021 - 08:29 AM (RTTNews)
(RTTNews) - U.S. durable goods orders for January, GDP data for the fourth quarter and weekly jobl ...Full Story>>

Euro Strengthens As Eurozone Economic Confidence Improves, European Shares Rally

02/25/2021 - 07:38 AM (RTTNews)
(RTTNews) - The euro moved higher against its major counterparts in the European session on Thursd ...Full Story>>

Euro Little Changed After Eurozone Economic Confidence Index

02/25/2021 - 05:10 AM (RTTNews)
(RTTNews) - At 5.00 am ET Thursday, the European Commission has released economic and business sen ...Full Story>>

Euro Climbs Ahead Of Eurozone Economic Confidence Index

02/25/2021 - 04:59 AM (RTTNews)
(RTTNews) - At 5.00 am ET Thursday, the European Commission is scheduled to issue economic and bus ...Full Story>>

Do not sell my personal information

Copyright © 2021. 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.