The dollar rose to its highest level in three months against
the yen on Monday, after expectations of Japanese trade data weaker than
expected, fueling speculation the work of monetary policy easing by the
Bank of Japan later this month.
USD / JPY 79.69 during European morning trade, the pair’s highest since July 12, and the pair subsequently consolidated at 79.68, gaining 0.45%.
The pair was likely to find support at 79.20, the lowest price for the session and resistance at 79.94, the highest price since July 12.
Earlier in the day, official data showed that Japan recorded a trade deficit of 558.6 billion yen in September, as exports fell 10.3% from the same month last year, the biggest fall since May 2011, two months after the earthquake disaster in Japan.
In addition to the weakness of the data there is a sign that the Bank of Japan to increase the size of the asset purchase program at its next policy meeting on October 30.
The yen fell against the euro weaker, with EUR / JPY fell 0.55% to hit 103.08.
The euro found support after the results of regional elections over the weekend in Spain, which expressed support for the government’s austerity policies.
Increased majority center-right Popular Party of Prime Minister Mariano Rajoy Prime majority in his home town Galisseea on Sunday Galicia, which still obstacles to request financial assistance from Spain’s partners in the euro zone.
The Prime Minister said Rajoy said on Friday he had not yet decided whether he will ask for help.
USD / JPY 79.69 during European morning trade, the pair’s highest since July 12, and the pair subsequently consolidated at 79.68, gaining 0.45%.
The pair was likely to find support at 79.20, the lowest price for the session and resistance at 79.94, the highest price since July 12.
Earlier in the day, official data showed that Japan recorded a trade deficit of 558.6 billion yen in September, as exports fell 10.3% from the same month last year, the biggest fall since May 2011, two months after the earthquake disaster in Japan.
In addition to the weakness of the data there is a sign that the Bank of Japan to increase the size of the asset purchase program at its next policy meeting on October 30.
The yen fell against the euro weaker, with EUR / JPY fell 0.55% to hit 103.08.
The euro found support after the results of regional elections over the weekend in Spain, which expressed support for the government’s austerity policies.
Increased majority center-right Popular Party of Prime Minister Mariano Rajoy Prime majority in his home town Galisseea on Sunday Galicia, which still obstacles to request financial assistance from Spain’s partners in the euro zone.
The Prime Minister said Rajoy said on Friday he had not yet decided whether he will ask for help.
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