1 Jul 2013
USD/JPY jumps to overnight highs after upbeat Japanese Tankan
FXstreet.com (New York) - The USD/JPY technical pair surged higher on upbeat Japanese economic data in recent moments, notching fresh overnight highs at the time of writing.
USD/JPY on the upswing, 100.00 in sights?
At the time of writing, the USD/JPY is operating at 99.49, up +0.20% during Asian trading. According to the BNZ Research Team, “The return of the USD/JPY onto a 99 handle on Friday (low of 93.85 in mid-June) may encourage the spec community to launch another assault on 100 this week, although we suspect we’ll need US data to play ball as well.”
USD/JPY upbeat Japanese data in focus
In Japan, the Tankan Large Manufacturing Outlook (Q2) reported at 10.0, beating expectations of 7.0. Moreover, Tankan Large All Industry Capex (Q2) yielded a figure of +5.5%, exceeding estimates of +2.9%. Finally, the Tankan Large Manufacturing Index (Q2) yielded 4.0, against projections calling for -6.0.
USD/JPY on the upswing, 100.00 in sights?
At the time of writing, the USD/JPY is operating at 99.49, up +0.20% during Asian trading. According to the BNZ Research Team, “The return of the USD/JPY onto a 99 handle on Friday (low of 93.85 in mid-June) may encourage the spec community to launch another assault on 100 this week, although we suspect we’ll need US data to play ball as well.”
USD/JPY upbeat Japanese data in focus
In Japan, the Tankan Large Manufacturing Outlook (Q2) reported at 10.0, beating expectations of 7.0. Moreover, Tankan Large All Industry Capex (Q2) yielded a figure of +5.5%, exceeding estimates of +2.9%. Finally, the Tankan Large Manufacturing Index (Q2) yielded 4.0, against projections calling for -6.0.