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Yen weakens, crosses soar

Posted by Marge Maresca on Oct 2, 2013 10:40:00 PM

Asia Session Recap

2 October 2013


1130 GMT Australian AIG Services Index for September 47.9 vs. 39 previous

0100 GMT China September Non-Manufacturing PMI Rises to 55.4 vs. 53.9 previous


The partial shutdown of the US federal government entered its second day.  With an estimated
800,000 federal employees furloughed and negotiations continuing to make no progress, the US Dollar has remained under pressure.  Euro and GBP tested fresh highs of 1.3625 and 1.6240 respectively.  The Japanese Yen and Yen crosses have also come under pressure after reports from Tepco found a new tank leak at the Fukushima Dai-Ichi atomic station.   Usd/Jpy traded up to 97.70 from 97.25 sending the crosses soaring. Aud/Jpy traded up 70 points, while Eur/Jpy and Gbp/Jpy traded up 80 points.



Upcoming Economic Data

0830 UK Services PMI

1230 US Unemployment Claims

1400 US ISM Non-Manufacturing PMI



Session Ranges:

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Margaret Maresca



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