5 Dec 2014
USD/JPY rises above 120.50
FXStreet (Córdoba) - USD/JPY rose further ahead of the US nonfarm payrolls release and printed a fresh 7-year high at 120.67 as the yen drops across the board.
Since the beginning of the day the pair has risen more than 80 pips and currently stands at 120.64, up 0.70% for the day. A week ago the pair was below 118.00 and is now headed toward the seventh weekly gain in a row.
USD/JPY discounting upbeat NFP?
At 13:30 GMT, employment numbers from the US will be release and are likely to impact in the currency market. Weak numbers could pose a risk to the USD/JPY bullish momentum while a better-than-expected NFP, that supports the US dollar, could pushed the pair closer to 121.00.
The recent rally of the pair could have been boosted by expectations of an upbeat jobs report.
Since the beginning of the day the pair has risen more than 80 pips and currently stands at 120.64, up 0.70% for the day. A week ago the pair was below 118.00 and is now headed toward the seventh weekly gain in a row.
USD/JPY discounting upbeat NFP?
At 13:30 GMT, employment numbers from the US will be release and are likely to impact in the currency market. Weak numbers could pose a risk to the USD/JPY bullish momentum while a better-than-expected NFP, that supports the US dollar, could pushed the pair closer to 121.00.
The recent rally of the pair could have been boosted by expectations of an upbeat jobs report.