Yen earns in Asia as traders move past American politics
On Friday, the Japanese yen soared in Asia after producer prices came in as expected and market participants moved past American politics for now and ahead to the Fed gathering next month widely expected to raise rates.
The currency pair USD/JPY traded at 106.57, tumbling 0.24%, while AUD/USD was worth 0.7617, ascending 0.09%.
In Japan, October’s PPI figures came in as expected for a 0.1% dip month-on-month and a 2.7% sink year-on-year, the 19th straight descend.
The US dollar index, estimating the greenback’s value against six key currencies, dipped 0.13%, trading at 98.66.
Overnight, the evergreen buck was hovering at two-week peaks against other key currencies on Thursday, after the publication of positive American jobless claims data and as markets kept coming to terms with Donald Trump’s unexpected election victory.
The US Department of Labor told that the overall number of individuals filing for initial jobless benefits by November 5 dropped by 11,000 to 254,000 from last week’s total of 265,000.