Forex - USD/JPY slides lower ahead of U.S. election 6 -11
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Forexpros - The U.S. dollar hit a three-day low against the yen on Tuesday, as demand for the traditional safe haven yen was boosted by uncertainty ahead of the U.S. presidential elections and a key Greek parliamentary vote on austerity measures.
USD/JPY hit 79.96 during late Asian trade, the pair’s lowest since November 1; the pair subsequently consolidated at 80.06, shedding 0.27%.
The pair was likely to find support at 79.77, the low of November 1 and resistance at 80.29, the session high.
Market participants remained cautious ahead of the start of voting in the U.S. presidential elections later in the day, with opinion polls pointing to a tight race between incumbent President Barack Obama and Republican contender Mitt Romney.
Investors were also eyeing Wednesday’s parliamentary vote in Greece on new austerity measures needed in order for Athens to secure its next installment of international aid.
The dollar remained somewhat supported against the yen as the prospect for further easing by the Bank of Japan lingered, after the central bank eased monetary policy last week, for the second time in two months.
The yen rose to a one-week high against the euro, with EUR/JPY down 0.38% to 102.34.
Later in the day, Germany was to produce official data on factory orders, while Spain and Italy were to release official data on service sector activity.
Hello and welcome in a blog breaking news Alfrux
Breaking news Forex currency market, forex market GMT. Forex traders
Urgent and exclusive news about the trade and the latest news currency and
currency rates, explanations profit of Alfrux, SEC
Breaking forex news
Forexpros - The U.S. dollar hit a three-day low against the yen on Tuesday, as demand for the traditional safe haven yen was boosted by uncertainty ahead of the U.S. presidential elections and a key Greek parliamentary vote on austerity measures.
USD/JPY hit 79.96 during late Asian trade, the pair’s lowest since November 1; the pair subsequently consolidated at 80.06, shedding 0.27%.
The pair was likely to find support at 79.77, the low of November 1 and resistance at 80.29, the session high.
Market participants remained cautious ahead of the start of voting in the U.S. presidential elections later in the day, with opinion polls pointing to a tight race between incumbent President Barack Obama and Republican contender Mitt Romney.
Investors were also eyeing Wednesday’s parliamentary vote in Greece on new austerity measures needed in order for Athens to secure its next installment of international aid.
The dollar remained somewhat supported against the yen as the prospect for further easing by the Bank of Japan lingered, after the central bank eased monetary policy last week, for the second time in two months.
The yen rose to a one-week high against the euro, with EUR/JPY down 0.38% to 102.34.
Later in the day, Germany was to produce official data on factory orders, while Spain and Italy were to release official data on service sector activity.
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