US dollar lost positions against Japanese yen

Written by Miroslav Marinov

Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.

, | Updated: October 30, 2024

On Wednesday US dollar remained mostly weak against the Japanese yen, which caused impact on greenbacks positions versus the other major currencies.

USD/JPY fell down to 101.52 during European trade session. Yens strength came after its yesterdays retreat by almost 1.4%, because Japanese stocks registered a decline through the course of a volatile trade.

The greenback was again under support after yesterdays strong data from US, fueling expectations that FED would reduce scale of easing from its current 85-billion US dollar monthly level.

Additionally, EUR/USD pushed higher, reaching 1.2894, after official report showed that the number of unemployed people in Germany rose by 21 000 during May, disappointing forecasts for only a 5000 increase.

After hitting 11-week highs versus the British pound, US dollar retreated, with GBP/USD moving upwards to 1.5065.

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