25 Sep 2013
USD/JPY gains some support on US debt ceiling stand-off.
FXstreet.com (London) - The Japanese Yen has held firm against the US dollar as fears of a government shutdown begin to weigh. The US government is rapidly approaching its debt ceiling of USD16.699 trillion
The Democrat-controlled US Senate will today hold a test vote on legislation passed by the Republican-controlled House of Representatives to cover federal spending until December 15, while defunding Obamacare. The chances of a Democrat-controlled Senate passing the bill or President Obama signing it into law are slim to none. Senate majority leader Harry Reid has said that the senate would pass a bill without defunding Barack Obama’s healthcare law. Any further breakdown in the debate will support haven flows into the Yen.
The dollar had shown some intra-day gains yesterday, before The Richmond Fed factory index crashed from 14 to 0. The Richmond Fed survey is often a sign of things to come other regional Fed factory surveys.
The consensus is that we will some see some recovery in the August new home sales numbers when they are released later today, after they saw the biggest fall in three years in July.
USD/JPY is currently trading at JPY98.8050.
The Democrat-controlled US Senate will today hold a test vote on legislation passed by the Republican-controlled House of Representatives to cover federal spending until December 15, while defunding Obamacare. The chances of a Democrat-controlled Senate passing the bill or President Obama signing it into law are slim to none. Senate majority leader Harry Reid has said that the senate would pass a bill without defunding Barack Obama’s healthcare law. Any further breakdown in the debate will support haven flows into the Yen.
The dollar had shown some intra-day gains yesterday, before The Richmond Fed factory index crashed from 14 to 0. The Richmond Fed survey is often a sign of things to come other regional Fed factory surveys.
The consensus is that we will some see some recovery in the August new home sales numbers when they are released later today, after they saw the biggest fall in three years in July.
USD/JPY is currently trading at JPY98.8050.