Valeria Bednarik, chief analyst at FXStreet explained the recent conditions surrounding USD/JPY.
Key Quotes:
“The Japanese Yen strengthened during the past Asian session, with the USD/JPY pair falling down to 112.01 during the European morning, as dovish words by FED’s Chief Yellen kept the dollar in sell-off mode for most of the day.
Early news showed that Japan’s preliminary Industrial production for April dropped 6.2% monthly basis and 1.5% compared to a year before, slightly below expected. Later on the day, the good employment readings coming from the US helped the pair in recovering ground up to 112.67, before it turned back south.”
(Market News Provided by FXstreet)
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