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USD/JPY accelerates and climbs to fresh 8-month highs


The US dollar gained momentum during the American session in the forex and rose further versus European currencies and printed a fresh 8-month high against the Yen.
The US dollar gained momentum during the American session in the forex and rose further versus European currencies and printed a fresh 8-month high against the Yen. EarlierUSD/JPY dropped to 104.75 but rebounded, rose back above 105.00 and continued to rise.

Recently peaked at 105.36, just a few pips above yesterday's highs, reaching levels not seen since January 2014. Price remained near the highs ahead of the key US employment report to be released on Friday.

US government bonds yields were rising, boosting the USD/JPY and also weakening the Japanese currency across the board. The AUD/JPY was trading at the highest level in more than a year above 98.50 while the CAD/JPY reached 97.00, for the first time since January.

US stocks rise, Euro plummets
The ECB lifted stocks in Europe and also US equities were rising.
The"> ECB lifted stocks in Europe and also US equities were rising. In Europe the FTSE 100 rose 0.06%, the Dax climbed 1.01% and the Cac 40 1.65%. The Dow Jones was rising 0.24%, the Nasdaq 0.27% and the S&P 500 0.26%.
In the US, ahead of tomorrow’s NFP report, the ADP numbers showed that private payrolls rose by 204,000 in August, below the 220.000 expected by analysts. Other economic data showed that initial jobless claims rose to 302,000 while the trade balance deficit in July was $40.55B, slightly below expectations.
Among currencies the euro is plunging across the board affected by ECB measures. European currencies were falling sharply: EUR/USD was near 1.2900, after a 200-pip decline, while the GBP/USD fell below 1.6400 and the USD/CHF rose above 0.9300.
Gold was trading flat, unable to consolidate above $1, 2700/oz, but holding near. Crude oil was retreating after rising sharply yesterday; the barrel was down 1% around $94.50.
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