USD/JPY refreshes daily high on stronger USD ahead of critical US data
|- USD/JPY continues to rise on Friday for the third second day.
- US Dollar Index remains steady above 92.20 on mixed economic data, Fed’s hawkish comments.
- The yen losses attractiveness as a record case of delta variant reported in Japan.
USD/JPY extends gains in the initial Asian trading session on Friday. The upbeat movement in the US dollar sponsors the performance of the pair.
At the time of writing, USD/JPY is trading at 109.78, up 0.04 % for the day.
The US Dollar Index, which tracks the performance of the greenback against its six major rivals, trades near 92.30 with 0.04% gains.
The
The number of Americans filing new claims for unemployment benefits declined to 385k in July, broadly in line with market estimates of 384K whereas the US posted the largest trade deficit on record in June at $75.7 billion compared to $73.9 billion.
On the other hand, the Japanese yen lost ground after the head of the Japan Medical Association asked for a nationwide state of emergency.
Meanwhile, the au Jibun Bank Japan Services PMI came at 47.4 in July compared with market estimates of 46.4 in June. The pessimistic reading weighed upon the yen.
As for now, investors wait for US Nonfarm payrolls to gauge the market sentiment.
USD/JPY additional levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.