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Dollar dips against yen

During Thursday’s Asian trade the evergreen buck dropped against the Japanese yen. That’s so sad, but the US dollar appeared to be unable to keep climbing from the levels overnight, following a lack of new trading cues. 

The major US currency traded at ¥109.60 having hit ¥109.90 a bit earlier that session.

Overnight the greenback soared amid positive US housing report. However, during Asia trade the greenback failed to grow further and got capped lower ¥110.00, notwithstanding an apparent recovery in stock and oil prices.    

Tokyo-based currency dealers drew attention to a bunch of greenback selling offers from Japanese exporters as well as other corporate players stuck to the ¥110 level, keeping an eye open on the greenback’s ascending momentum. 

Financial experts are assured that the main stage will most likely take place exactly during overseas trading hours.   

The dollar-yen trade might mostly depend on short-term players’ adjustment of speculative positions.  This could bring the greenback higher against its Japanese rival a bit later today.  

 

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