Tuesday, 10 October 2017
What’s next? – USDJPY 10.10.17
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what’s next
USDJPY
The dollar/yen was stable as of 07:15 GMT on Tuesday, trading at 112.67 as the greenback took some losses over rising tensions on the Korean peninsula.
The US dollar index, which gauges the greenback against a basket of six major rivals, was trading at 93.36 by the time of this writing, 0.16 percent lower.
Earlier in today’s session, Japan’s adjusted current account came in with a surplus of 2.27 trillion yen, larger than the originally expected 1.98 trillion yen.
The dollar came under pressure on Monday following reports that showed North Korea is preparing a new long-range missile test for the upcoming days.
“Our country has been unsuccessfully dealing with North Korea for 25 years, giving billions of dollars & getting nothing. Policy didn't work!” President Donald Trump tweeted on Monday.
Russian Foreign Minister Sergei Lavrov and US Secretary of State Rex Tillerson had a phone conversation on Monday in which the Russian part explained an escalation was unacceptable.
However, the American currency continued to be supported by Friday’s US jobs data, which was seen as a potential boost to inflation in the near term.
Average hourly earnings increased by 2.9 percent year over year in September. Growing wages contribute to generate inflation, a key benchmark that Federal Reserve authorities monitor when deciding about monetary policy adjustments.
According to Fed funds tracked by CME Group’s FedWatch program, investors are pricing in a 89.2 percent chance of a 25 basis points interest rate hike by December.
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