USD/JPY rebounds after slump, approaches 120.00

FXStreet (Córdoba) - USD/JPY recovered ground during the last two hours and trimmed losses, approaching 120.00. Earlier the yen jumped across the board amid reports suggesting that Bank of Japan’s official were concerned about more stimulus and its potential damage to confidence.

The pair bottomed on Thursday at 118.85, the lowest since Tuesday but quickly rebounded toward 119.50. Recently climbed to 119.89 and currently trades at 119.75/80, down 0.40% for the day. Despite moving off session lows, the US dollar is having so far the worst day against the yen since the beginning of the month.

Important economic data from the US will be release in less than two hours (retail sales and jobless claims) that could impact USD/JPY. The pair is pulling back on Thursday after reaching yesterday the strongest level in a month at 120.46.