FX SIGNALS - Yen near 7 month high - Forex Signals

FX SIGNALS – Yen near 7 month high

FX SIGNALS – SINGAPORE (Reuters) – The dollar drifted above multi-month lows on Tuesday, while the yen was perched near seven-month highs as investors held their breath for a potential policy shift at the Bank of Japan.

The euro, which reached a nine-month high on Monday at $1.0874, was last loitering around $1.0825. The yen hit a top of 127.22 per dollar during Asia hours on Monday, before steadying around 128.69 on Tuesday.

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Elsewhere, the U.S. dollar index has bounced from a seven-month low of 101.77 made a day ago and held at 102.30. Sterling touched its highest since mid-December at $1.2288 before easing back to $1.2195 in Asia trade.

Dollar finds footing as looming data

There was not a great deal of currency market reaction to far stronger-than-expected Chinese growth data.

The Australian dollar, which hit a five-month high just above $0.70 on Monday and wobbled around $0.6976. The New Zealand dollar held at $0.6402.

Bitcoin, which has been on a tear in recent days, steadied above $20,000 and last bought $21,154.

FX SIGNALS – Yen near 7 month high

These are the three most traded currencies beside the US dollar. Minor pairs have a smaller market share compared to major pairs. Because of this they can exhibit lower market liquidity. Lower market liquidity will mean that a broker will give wider dealing forex spreads.

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