Investing.com - The dollar gained against the yen on Friday
after consumer sentiment figures came in weaker than expected in
the U.S. earlier.
Talk the Bank of Japan may consider loosening policy next week sent
the greenback firming against its Japanese counterpart.
In U.S. trading on Friday, USD/JPY was trading at 90.02, up 0.16%,
up from a session low of 89.64 and off a high of 90.21.
The pair was likely to find support at 87.80, Wednesday's low, and
resistance at 90.21, the earlier high.
The dollar saw safe-haven demand after earlier data revealed that
The Thomson Reuters/University of Michigan's preliminary index of
U.S. consumer sentiment fell to 71.3 in January - its lowest level
since December 2011 -from 72.9 in December, disappointing
expectations for an improvement to 75.0.
Investors opted to remain camped out in the safety of the dollar on
fears the U.S. economy still faces stiff headwinds, as consumer
spending drives about 70% of the country's total output.
Elsewhere, the Bank of Japan will hold a monetary policy next week,
and talk the central bank will consider loosening policy in wake of
repeated calls to do so by Prime Minister Shinzo Abe weakened the
yen against the greenback on Friday.
The yen, meanwhile was up against the pound and up against the
euro, with GBP/JPY down 0.58% and trading at 142.94 and EUR/JPY
trading down 0.21% at 119.98.
offers an extensive set of professional tools for the Forex,
Commodities, Futures and the Stock Market including real-time data
streaming, a comprehensive economic calendar, as well as financial
news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @