Yen Advances Amid Risk Aversion Ahead Of G7 Summit
08 Juin 2018 - 9:18AM
RTTF2
The Japanese yen climbed against its major counterparts in the
European session on Friday amid risk aversion, as investors
cautiously await a gathering of G7 leaders in Canada, where trade
tariffs are expected to be the key agenda.
U.S. President Donald Trump launched attacks on EU and Canada
via twitter, saying that they were charging the US massive tariffs
and create non-monetary barriers.
"I look forward to seeing them tomorrow," Trump wrote on
Thursday.
Traders also focus on the European Central Bank and Federal
Reserve meetings next week for policy direction.
The high-profile US-North Korea summit was also on top of
investors' radar.
Data from the Cabinet Office showed that Japan's final gross
domestic product fell 0.2 percent on quarter in the first three
months of 2018.
That was unchanged from the May 16 preliminary reading, although
it defied expectations for an upward revision to -0.1 percent.
Data from the Ministry of Finance showed that Japan logged a
current account surplus of 1.845 trillion yen in April, down 6.8
percent on year.
That missed expectations for a surplus of 2.076 trillion yen
following the 3.122 trillion yen surplus in March.
The currency has been trading in a positive territory against
its major counterparts in the Asian session.
The yen advanced to 3-day highs of 128.33 against the euro,
111.08 against the franc and 146.35 against the pound, coming from
its early lows of 129.73, 112.01 and 147.44, respectively. The next
possible resistance for the yen is seen around 127.00 against the
euro, 110.00 against the franc and 145.00 against the pound.
The yen appreciated to a weekly high of 109.26 against the
greenback and an 8-day high of 83.88 against the loonie, reversing
from its previous lows of 109.85 and 84.69, respectively. The yen
is seen finding resistance around 108.00 against the greenback and
83.00 against the loonie.
The yen climbed to a 4-day high of 76.61 against the kiwi, after
having fallen to 77.21 at 9:00 pm ET. If the yen rises further,
75.00 is likely seen as its next resistance level.
Looking ahead, U.S. wholesale inventories for April, Canada
housing starts and jobs data for May are due in the New York
session.
US Dollar vs Yen (FX:USDJPY)
Graphique Historique de la Devise
De Mar 2024 à Avr 2024
US Dollar vs Yen (FX:USDJPY)
Graphique Historique de la Devise
De Avr 2023 à Avr 2024