Shutterstock photo
Markets

Forex - USD/JPY steady near key 100 yen level

Shutterstock photo

Shutterstock photo

Investing.com - The dollar holding below the key 100 level against the yen on Thursday after the minutes of the Federal Reserve's most recent meeting showed that policymakers are divided over about when to end its bond buying program.

USD/JPY hit 98.92 during late Asian trade, the session low; the pair subsequently consolidated at 99.61, slipping 0.19%.

The pair was likely to find support at 98.90, Wednesday's low and resistance at 100.00.

The Fed minutes, which were inadvertently released ahead of schedule, showed that that a few policymakers saw quantitative easing tapering around midyear, while several others believed it would be appropriate to slow later in the year and to stop by the end of the year.

The impact of the minutes was muted as the meeting was held before nonfarm payrolls data showed that the U.S. economy added far fewer than expected jobs in March.

The yen remained under pressure after Bank of Japan Governor Haruhiko Kuroda said Wednesday that the bank was ready to extend its monetary stimulus program beyond two years if necessary in order to reach its 2% inflation target.

The yen was hovering close to 39-month lows against the euro, with EUR/JPY slipping 0.14% to 130.21.

The U.S. was to publish the weekly government report on initial jobless claims and data on import prices later in the day.

Investing.com - Investing.com 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 @ Newsinvesting

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.

Other Topics

ForEx