- USD/JPY extends the gains on the last trading day of the week.
- US Dollar Index remains strong above 93.00 on upbeat economic data.
- The yen slip on the backfoot on its slower vaccination program.
The appreciative move in the US dollar keeps, USD/JPY higher on Friday in the initial Asian trading hours. The pair continues to consolidate gains in a familiar trading range of 110.20 and 110.50.
At the time of writing, USD/JPY is trading at 110.43, up 0.03 % for the day.
The US Dollar Index, which tracks the performance of the greenback against its six major rivals, trades above 93.00 with 0.10% gains.
The US jobless data enhances the attractiveness of the greenback as it reflects the better labor market conditions but falls short to support the early tapering by the Fed. The US Initial Jobless Claims fell for a third straight week to 375k.
In the meantime, the Producer Price Inflation (PPI) rose by 1% in July, beating the market expectations.
On the other hand, the Japanese yen as investors assessed the impact of the slower vaccination program on the pace of economic recovery.
As for now, investors wait for the US Trade and Michigan Consumer Sentiment Index data to gauge the market sentiment.
USD/JPY additional levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD drops toward 1.0700 after US jobs report

EUR/USD came under renewed bearish pressure in the second half of the day on Friday and declined toward 1.0700. Stronger-than-expected Nonfarm Payrolls (NFP) data helps the US Dollar gather strength ahead of the weekend and forces the pair to stay on the back foot.
GBP/USD extends slide below 1.2450 amid a stronger USD

GBP/USD dropped further and hit fresh daily lows below 1.2450 amid a stronger US dollar. The Greenback remains firm following the release of the US May jobs report. Despite losing almost 100 pips on Friday, GBP/USD is still on track for a weekly gain.
Gold falls below $1,960 as US yields rebound after US jobs data

Gold price turned south and declined below $1,960 on Friday. After the data from the US revealed that Nonfarm Payrolls rose 339,000 in May, the benchmark 10-year US Treasury bond yield gained more than 2% and recovered toward 3.7%, weighing heavily on XAU/USD.
China crypto community picks Ethereum, Arbitrum and BNB Chain as top protocols

Ethereum, Arbitrum and BNB Chain protocols are top picks for the Chinese crypto community, data from a report shows, a possible bullish catalyst for tokens related to these protocols as Hong Kong opens the door of crypto to retail investors.
LULU stock adds 15% on big Wall Street beat

Lululemon Athletica did it again. In something that has become quite predictable, LULU stock sailed 14.9% higher in Friday’s premarket to $377.20 after the prized athleisure brand posted a nearly 15% earnings beat for the first quarter.