Tuesday, January 5, 2010

Yen crosses & Euro


Yen crosses were lower with the euro slipping 0.5 percent to 132.53 yen EURJPY=R and the Australian dollar falling 0.5 percent to 83.10 yen. AUDJPY=R
The U.S. non-farm payrolls report is expected to show U.S. employers cut 20,000 jobs in December, according to economists polled by Reuters, after the economy shed a much lower-than-expected 11,000 jobs in November.

Data released last week showed the number of U.S. workers filing new applications for jobless benefits unexpectedly fell in the week ending Dec. 26 to the lowest level in about 17 months.

The data helped the dollar to rise against the yen to its highest since early September as it affirmed optimism about the U.S. economy.
An improvement in Friday's jobs data could lift the greenback in the short-term, but it is still open to question whether the dollar will keep its upward momentum, traders said.

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