What’s next? – USDJPY 07.12.17

The dollar was trading 0.27 percent higher vs the Japanese yen at 112.58 as of 05:35 GMT on Thursday, as the greenback continued to rise on the back of tax reform speculation.

The US dollar index, which gauges the greenback against six major currencies, was trading at 93.64 by the time of this writing, up 0.06 percent.

In the previous session, various reports pointed to a potential deal between GOP leadership in the House of Representatives and Senate to pass a bill and avoid a government shutdown from December 8 to December 22.

On the data front, ADP/Moody's Analytics monthly report showed US private payrolls adding 190,000 jobs in November, above an initially forecasted 185,000.

Ahead today, traders will get a new look at the weekly initial jobless claims count as of 13:30 GMT, with an expected increase to 240,000 from a prior week 238,000 reading.

The pair remains in a tight range as there haven’t been strong catalysts causing relevant moves as for this pair concerns. The 112.0 mark continues to secure the lower side, while the bullish side remains limited by 113.0 and 114.5 in extension.v

Traders are currently looking at official employment figures from the US Labor Department, which are due for release tomorrow Friday at noon.

By the end of this day in the Western world at 23:50 GMT, Japan will release its adjusted current account, third-quarter gross domestic product and trade balance figures.

Fort Financial Services