The U.S. dollar held firm in Asia on Thursday, having posted its best one-day gain in over a month after the Federal Reserve confirmed that it would begin to dial down stimulus this year.» Read More
John Horner, FX Strategist at Deutsche Bank says "Abenomics" will continue to help the yen weaken.
The yen fell against the dollar and the euro as global stocks rebounded, but the Japanese currency may stay near two-month highs until investors get more clarity on the Federal Reserve's ultra-loose policy.
The yen rose against the U.S. dollar on Friday for a fourth straight day as investors unwound bets against the Japanese currency due to uncertainty surrounding central banks.
The yen rose against the dollar to levels not seen since the Bank of Japan unleashed its aggressive stimulus in early April.
The dollar recovered lost ground against the yen on Wednesday after a sharp sell-off the previous day as investors sought to buy at cheaper levels.
Scott Maddock , Senior Analyst at Macquarie Private Portfolio Management says the rotation out of yield in the recent market correction is temporary, and that Australian investors will start favoring high yielding stocks again.
Keagan York, Head of FX Strategy at Compass Global Markets forecasts the bottom for the Australian dollar will be 93.25 against the greenback.
The yen soared on Tuesday after the Bank of Japan decided not to announce additional measures to curb recent volatility in the bond market.
The dollar rose sharply versus the yen on Monday, bolstered by stronger-than-forecast Japanese data and a Standard & Poor's upgrade to the credit outlook for the United States.
TOKYO, June 10- A sharp bounce in the Japanese stock market on Monday helped the dollar move further away from a two-month low against the yen plumbed in the previous session, while the Australian dollar skidded after disappointing data from China, its biggest export market.
*Aussie under pressure after more lacklustre China data disappoints. TOKYO, June 10- The dollar extended its recovery against the yen in Asia on Monday, moving well away from a two-month low plumbed in the previous session, while the Australian dollar slumped after disappointing data from China, its biggest export market.
*AUD hardest-hit by China data, sheds as much as 1 pct. "The data didn't suggest an imminent tapering, but it still pointed to the direction of the Fed scaling back its quantitative easing at some point, leaving an element of uncertainty," said Ayako Sera, senior market economist at Sumitomo Trust Bank in Tokyo.
*Aussie under pressure after China trade data disappoints. TOKYO, June 10- The dollar resumed its bounce against the yen in early Asian trade on Monday, moving well away from a two-month low plumbed in the previous session, while the Australian dollar slumped after disappointing data from China, its biggest export market.
*AUD hardest-hit by China data, down 1 pct. SYDNEY, June 10- Asian stock markets are set for a cautious start on Monday as another set of soft data from China over the weekend rekindled global growth worries, but any selling may be contained on easing concerns that the massive U.S. stimulus could be scaled back in the near future.
The dollar recovered on Friday from steep losses in the previous session after a government report showed a reasonably healthy pace of U.S. job creation in May.
The dollar fell sharply against the yen and euro on Thursday, hitting levels not seen in months, as investors fretted that upcoming U.S. jobs data would disappoint.
Nathan Bell, Research Director at Intelligent Investor says Australian companies with a global focus should benefit from the weaker Australian dollar, and shareholders will reap the returns.
Todd Elmer, Currency Strategist at Citi explains why now is the time short the Australian dollar. He says a slowing China has led him to change his previous bullish call on the currency.
SYDNEY, June 6- The yen was sharply higher on Thursday as a rout in Japanese stocks forced investors out of popular carry trades, while commodity currencies were under fierce pressure with the Australian dollar wallowing at 19- month lows.
The dollar weakened against most currencies on Wednesday after a report showed hiring in the U.S. private sector fell short of expectations last month.