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Forex - Dollar slips against yen, edges higher vs. euro

Investing.com -

Investing.com - The dollar slipped lower against the yen on Friday and edged higher against the euro, as investors awaited the release of a string of U.S. economic reports due later in the day.

USD/JPY slid 0.36% to 108.64.

The greenback had gained ground against the yen earlier in the week after Japanese Finance Minister Taro Aso said on Monday that financial authorities are prepared to intervene in the currency market if excessive moves in the yen are enough to affect the country's economy.

However, Bank of Japan Governor Haruhiko Kuroda said earlier Thursday that it would be difficult for Japan's finance ministry to intentionally weaken the yen to boost exports.

EUR/USD slipped 0.15% to 1.1356.

Investors were looking ahead to U.S. reports on retail sales, producer prices and consumer sentiment due later in the day, for further indications on the strength of the economy.

On Thursday, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending May 6 increased by 20,000 to 294,000 from the previous week's total of 274,000. Analysts had expected jobless claims to drop by 4,000 to 270,000 last week.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was edged up 0.15% to 94.25.

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

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