Source: ForexYard
Renewed speculations that the Bank of Japan is getting ready to initiate new monetary easing policies resulted in the yen falling to a fresh 2 ½ year low against the USD during overnight trading. Meanwhile, the EUR/JPY advanced close to 60 pips during the Asian session to trade as high as 120.70, before falling to its current level of 120.45.
While the EUR/USD saw relatively little movement last night, the pair was largely able to maintain the gains made yesterday. The pair, currently trading just below the 1.3380 level, gained approximately 10 pips during the Asian session.
After falling close to $1 a barrel during evening trading yesterday, crude oil was able to recover some of its losses during the overnight session. The commodity gained close to $0.50 and is currently trading at $95.55.
Main News for Today
US Prelim UoM Consumer Sentiment- 14:55 GMT
• Forecasted to come in at 75.1 which, if true, would represent a significant increase over last month
• A higher than expected figure could result in dollar gains before markets close for the weekend
Read more forex news on our forex blog
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