Fri, 14 Sep 2012 00:00:00 +0200
US Data Set to Generate Volatility Today
The dollar was able to bounce back from a seven-month low against the Japanese yen during evening trading yesterday, following the announcement that the Fed was expanding its bond buying program. The USD/JPY jumped some 50 pips following the decision to reach 77.73. A minor downward correction followed, and brought the pair to the 77.60 level. Against the Swiss franc, the dollar fell more than 50 pips following the announcement to trade as low as 0.9364. An upward correction brought the greenback back to the 0.9390 level during evening trading. Turning to today, dollar traders will want to pay attention to another batch of potentially significant US news. Most importantly, the Retail Sales and Core Retail Sales figures, both scheduled to be released at 12:30 GMT, have the potential to generate volatility for the greenback. In addition, the Prelim UoM Consumer Sentiment indicator at 13:55 could result in the greenback reversing yesterday's gains against the JPY if it comes in below the expected 74.1.
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