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Forex: USD/JPY hits fresh daily low at 84.10

By FXstreet.com,  September 24, 2010, 09:34:00 AM EDT

FXstreet.com (Córdoba) - The Dollar fell further against the Yen and reached at 84.11, a fresh post-intervention low ahead of New York opening. USD/JPY has now fallen more than a hundred pips from daily highs and is approaching to 84.00.

Greenback weakened considerable across the board following the release of US economic data.

The US Census Bureau announced that Durable Goods Orders decreased 1.3% in August; expectations were for a decline of 0.9%. Excluding transportations new orders increased 2.0%, beating expectation of an increase of 0.9%.

Discussions about Yen movements during the Asian session remains. According to Andrew Wilkinson, analyst at Interactive Brokers, is not yet clear whether the Bank of Japan actually intervened on Friday or not. "If it did the episode was botched since it was not communicated to the market at all unlike that of last week. If they did intervene it has been totally ineffective with the yen rising to a one week high", said Wilkinson.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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