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27 Aug 2015
USD/JPY retreats below 121.00 as Wall Street erases most gains
FXStreet (Córdoba) - USD/JPY lost almost a hundred pips during the last two hours and moved off session highs as stocks trimmed gains in Wall Street.
The pair reached earlier at 121.39, the strongest level since Monday. Afterwards lost strength and retreated sharply. Currently it trades at 120.50, still up for the day, but consolidating away from daily highs.
Stocks in Wall Street are having another wild last hours, like it has been happening during the week. The Dow Jones was up 400 points and now is rising less than a hundred, after falling sharply during the last minutes. The decline from the highs in US markets boosted the yen.
Important data ahead
On Friday several economic reports will be release in Japan regarding inflation and retail sales, and also the unemployment rate. In the US, on Thursday, official data showed that the economy grew at a strongest pace than previously reported. On Friday it will be the turn for the personal spending and income report and the consumer confidence index from the University of Michigan.
The pair reached earlier at 121.39, the strongest level since Monday. Afterwards lost strength and retreated sharply. Currently it trades at 120.50, still up for the day, but consolidating away from daily highs.
Stocks in Wall Street are having another wild last hours, like it has been happening during the week. The Dow Jones was up 400 points and now is rising less than a hundred, after falling sharply during the last minutes. The decline from the highs in US markets boosted the yen.
Important data ahead
On Friday several economic reports will be release in Japan regarding inflation and retail sales, and also the unemployment rate. In the US, on Thursday, official data showed that the economy grew at a strongest pace than previously reported. On Friday it will be the turn for the personal spending and income report and the consumer confidence index from the University of Michigan.