The greenback pushed higher against the yen and the USDJPY pair was trading around 109.60 during the London session on Thursday, some 0.60% stronger on the day.
Wednesday brought some important macro news for the US dollar, namely the ADP report for January, which eased slightly from 247,000 to 234,000, but managed to surpass analysts’ expectations of 186,000.
In addition, the latest FOMC policy update signalled central bank’s confidence about inflation and provided a minor boost to the US Dollar.
Traders will now focus on today’s ISM manufacturing survey, which should slow marginally to 58.7 from 59.7 previously.
Disclaimer: The content of the Reports constitutes Marketing Communication and does not constitute Investment Advice or Investment Research or an offer for any transactions in financial instrument. The content of the Reports represents the view of our experts on a generic basis, and does not take into consideration individual readers personal circumstances, investment experience or current financial situation. In addition, the Reports have not been prepared in accordance with legal requirements designed to promote the independence of Investment Research, and are not subject to any prohibition on dealing ahead of the dissemination of Investment Research. Readers using the Reports should consider the possibility of encountering substantial losses. The past performance is not a guarantee of future results. Therefore, Goldenburg Group Limited shall not accept any responsibility for any losses of traders due to the use and the content of its Reports.