Currency Analyst since 2010

Dollar dipped versus yen

USD/JPY dipped as low as to 119.40 on Wednesday as lower Japanese business sentiment affected Japanese shares and increased demand for the yen as a safe haven. Nikkei 225 closed at -0.9%.

AUD/USD followed Chinese shares up on the better-than expected China’s official manufacturing PMI (50.1). Shanghai Composite rose by 1.66%. Aussie rose to 0.7760, but met resistance there as the market players are cautious about AUD longs ahead of the Reserve Bank of Australia’s meeting next week.

EUR/USD is back below 1.0750 after testing 1.0790 earlier during the Asian session. Traders remain concerned about Greece. In addition, they await US ADP private sector employment report later today.


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