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Forex - Japanese yen weaker in early Asian trade, geopolitics in focus

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Investing.com -

Investing.com - The Japanese yen was weaker in early Asia on Monday with no major data releases on the schedule and geopolitical events likely a prime driver of any volatility on the day.

USD/JPY traded at 102.15, up 0.12%, in early trade, while AUD/USD held at 0.9275, down 0.02%.

Last week, The dollar slid lower against the other major currencies on as heightened geopolitical risks prompted investors to take profits following the greenback's recent run higher.

Fears over hostilities between Russia and Ukraine eased on Friday after Russia's defense ministry said it had concluded military exercises it was holding close to the border with Ukraine.

On Thursday, European Central Bank President Mario Draghi indicated that the bank was pleased with the weaker exchange rate for the euro, which should help to bolster inflation and shore up exports.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.015% to 81.50.

In the week ahead, investors will be continuing to monitor geopolitical risk, while preliminary data on second quarter growth from the euro zone and Japan will be closely watched. Markets watchers will also be looking ahead to Wednesday's inflation report from the Bank of England and the U.S. report on retail sales.

On Monday, Switzerland is to publish data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. Canada is to release data on housing starts.

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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.


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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