1 May 2015
USD/JPY breaks above 120.00 after US data
FXStreet (Córdoba) - USD/JPY pushed to fresh daily highs at the beginning of the New York session as the greenback reacted positively to the latest string of economic data.
USD rises despite soft data
The dollar managed to advance versus main competitors despite data came in on the soft side. The ISM manufacturing PMI was unchanged at 51.5 in April, versus 52.0 expected by analysts, while the Reuters/Michigan Consumer Sentiment Index was also flat at 95.9, slightly below the 96.0 of forecast. Separated data showed construction spending dropped by 0.6% in March versus a rise of 0.5% expected while the Markit manufacturing PMI edged lower to 54.1 in April.
USD/JPY managed to advance toward the 120.10 area and printed a 1-week high before easing slightly. At time of writing, the pair is trading at 120.05, recording a 0.58% gain on the day.
USD rises despite soft data
The dollar managed to advance versus main competitors despite data came in on the soft side. The ISM manufacturing PMI was unchanged at 51.5 in April, versus 52.0 expected by analysts, while the Reuters/Michigan Consumer Sentiment Index was also flat at 95.9, slightly below the 96.0 of forecast. Separated data showed construction spending dropped by 0.6% in March versus a rise of 0.5% expected while the Markit manufacturing PMI edged lower to 54.1 in April.
USD/JPY managed to advance toward the 120.10 area and printed a 1-week high before easing slightly. At time of writing, the pair is trading at 120.05, recording a 0.58% gain on the day.