Investing.com - USD/JPY rose in the Asian trade on Tuesday ahead
of the Japan's Current Account data for November.
The Current Account Index to be released by Japan's Ministry of
Finance, is expected to show a deficit of 380 billion yen in
comparison to a deficit of 128 billion yen in October for the data
due at 0850 local time (2350 GMT).
USD/JPY traded up 0.05% at 103.05, AUD/USD traded down 0.01% at
0.9053, and NZD/USD traded up 0.01% to 83.76.
Meanwhile on Monday the U.S. dollar traded lower against major
currencies thought it narrowed its losses as investors avoided the
currency after the U.S. December jobs report disappointed and
rekindled expectations for the Federal Reserve to take its time
dismantling stimulus programs.
The Bureau of Labor Statistics on Friday reported that the U.S.
economy added 74,000 jobs in December, well below expectations for
a 196,000 increase and below an upwardly revised 241,000 rise the
The report also showed that the U.S. unemployment rate fell to 6.7%
in December due to a weak participation rate, down from 7.0% in
November. Analysts had expected the rate to remain unchanged last
The numbers weakened the dollar by fueling expectations for the
Federal Reserve to trim its USD75 billion monthly bond-buying
program at a slower pace than once expected, though by Monday,
sentiments grew that overall, the U.S. economy continues to recover
and still remains in less need of monetary support.
Investor opinions that the December jobs report may be an anomaly
and the product of bad winter weather that put off hiring also
cushioned the greenback's declines.
Fed asset purchases tend to weaken the dollar by suppressing
long-term interest rates, and expectations for further tapering of
such ultra-loose policies tend to strengthen the greenback.
Still, the dollar remained under pressure amid uncertainty ahead of
Tuesday's release of U.S. retail sales, with concerns that a
disappointing figure just days after a poor jobs report will
increase the chances of a more gradual Fed tapering.
The dollar index, which tracks the performance of the greenback
versus a basket of six other major currencies, was up 0.01% at
Later in the day, the U.S. is to produce data on retail sales as
well as data on import prices and business inventories. Federal
Reserve Bank of Philadelphia President Charles Plosser and Dallas
Fed President Richard Fisher will also speak today
offers an extensive set of professional tools for the financial
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