Forex: USD/JPY bounces from 101.00

on May 28, 2013

The USD/JPY paired opened the day’s trading at 101.10. The negative Corporate Service Price Index release last night had a negative value of -0.4 percent, compared to last months value of -0.2%.

Source for the CSPI data:
The CSPI played an important role during the Asian session, with traders pushing the yen lower on all fronts. The USD/JPY has since gained more than one percent with continuing support for the bullish trend during the European session so far, though traders appear currently to be awaiting the US Consumer Confidence data due at 15:00 BST before making their next moves.
Right now the USD is trading around 102.00.
Later tonight, Japan will publish Year-on-Year Retail Trade and Large Retailer’s Sales for April. Forecasts are negative.

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