JPY Passes 102 Mark, Weak Data From China
Weekly Analysis: USD/JPY Passes 100 Mark
USD/JPY passes 100 Mark
BinaryOptionStrategy.com – An exciting trading day on Friday driven by the reaction to the US jobs report and the news that the USD/JPY has broken through the $100 target. This makes it the first time at this level in 4 years. The USD gained following a speech by Ben Bernanke Federal Reserve Chairman the day before where he didn’t say anything that would suggest the Fed Reserve will place themselves back in the center of the currency strategy in order to increase stimulus or weaken the USD. Of late we saw the greenback performing extremely well against the other currencies, closing at a 4 yr high against the Japanese Yen, a one-month high against the EUR and NZD, a ten-month high against the AUD and an eight month high against the CHF.
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JPY Passes 102
Welcome back to another exciting week in the markets, and today both the dollar and the Nikkei 225 have opened with nice gains in the Asian session. This follows the BOJ’s announcement that the Japanese M2 money supply moved up 3.3 per cent in April to 844.5 trillion Yen. This beats expectations of 3.1 per cent. M2 quantifies the amount of money circulating in a specific country while M3 quantifies the total supply of money including assets and deposits. The M3 money supply in Japan gained 2.6 per cent last month too, to 1,142.0 trillion Yen which beat the expected 2.5 per cent.
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