Investing.com - The dollar fell against the yen on Tuesday amid
ongoing uncertainty as to whether or not the Federal Reserve will
announce plans to scale back its USD85 billion in monthly bond
purchases at its monetary policy meeting next week
In U.S. trading on Monday, USD/JPY was trading at 102.70, down
0.56%, up from a session low of 102.58 and off a high of 103.39.
The pair was likely to find support at 101.62, Thursday's low, and
resistance at 103.39, the earlier high.
A surprisingly strong November jobs report bolstered the dollar in
recent sessions by fanning talk the Federal Reserve may announce
plans to taper the pace of its USD85 billion in monthly bond
purchases at its Dec. 17-18 monetary policy meeting.
Friday data revealed that the U.S. economy added 203,000 jobs in
November, beating expectations for a 180,000 increase and up from a
downwardly revised 200,000 rise the previous month.
Also on Friday, the preliminary Thomson Reuters/University of
Michigan consumer sentiment index increased to 82.5 in December
from 75.1 the previous month, far surpassing expectations for a
By Monday, renewed uncertainty as to whether or not the U.S.
central bank will wait until early 2014 after reviewing more data
before deciding on tapering softened the greenback.
The yen was up against the pound and up against the euro, with
GBP/JPY down 0.42% and trading at 168.94 and EUR/JPY trading down
0.35% at 141.40.
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