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What’s next? – USDJPY 09.02.18

Feb 9 2018, 03:07 PM (+06) | Fortfs.com

The dollar was trading 0.48 percent higher vs the Japanese yen at 109.26 as of 09:00 GMT on Friday, with market players awaiting political news later in the day in search for direction.

 

US Congress failed to approve a two-year budget that would add $300 billion in government spending. Republican Senator Rand Paul blocked the vote arguing increasing fiscal spending was heavily criticized by Republicans during President Obama’s era.

 

“The real problem here is that Republicans have completely changed now and they said a trillion dollar deficit was terrible under Obama, but it’s just fine if it’s a Republican,” said Sen. Paul.

 

The US dollar index, which measures the greenback against six major currencies, was trading 0.03 percent lower at 90.09 by the time of this writing.

 

Earlier in the day, the Tertiary Industry Activity index came in at minus 0.2 percent, while analysts forecasted a 0.2 percent increase.

 

The People's Bank of China said on Friday it released almost 2 trillion yuan in liquidity ahead to cope with cash demand ahead of the Lunar New Year holiday.

 

China’s consumer prices increased by 0.6%, compared to a 0.7% build seen month-over-month for January and at a 1.5% advance on yearly basis.

 

Producer prices notched up 4.3% year-over-year, meeting analysts’ expectations.

 

The pair’s dynamic is expected to be dominated by news from the political front concerning the vote in Senate on the 

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