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6 May 2013

Italy Markit Services PMI rises to 47 in Apr from 45.5 in Mar.

May 6, 2013

Forex: USD/JPY extends Friday’s gains to 99.45 high

The Yen is having a moment of weakness during the European opening which is taking its toll against the USD and EUR as both USD/JPY and EUR/JPY rise today. The USD/JPY had found good support at 97 ground last week and started rebounding on Thursday ahead of the US nonfarm payrolls report. A better than expected figure, including a revision higher of March data, allowed a rally to 99.27 high. The pair is now extending these gains as the market is past 99.27 and reached 99.45 high, so far.
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