1 Dec 2014
USD/JPY briefly falls below 118.00 after ISM
FXStreet (Córdoba) - USD/JPY retreated further and posted a fresh daily low sub 118.00 immediately after the release of the ISM manufacturing PMI figures, but it quickly bounced back above the psychological level.
The US ISM manufacturing index edged slightly lower in November, to stand at 58.7 versus 59.0 in October, but staying above the 58.0 of consensus.
USD/JPY retreated sharply from a fresh 7-year high of 119.13 scored on the back of Japan’s downgrade by Moody’s during the European session, and bottomed out at 117.85 right after ISM data, only to climb back to the 118.20 zone soon after. At time of writing, the pair is trading at 118.17, still 0.45% below its opening price.
The US ISM manufacturing index edged slightly lower in November, to stand at 58.7 versus 59.0 in October, but staying above the 58.0 of consensus.
USD/JPY retreated sharply from a fresh 7-year high of 119.13 scored on the back of Japan’s downgrade by Moody’s during the European session, and bottomed out at 117.85 right after ISM data, only to climb back to the 118.20 zone soon after. At time of writing, the pair is trading at 118.17, still 0.45% below its opening price.