ISSN: 2056-3736 (Online Version) | 2056-3728 (Print Version)


The dollar turned lower against the yen Thursday after an unexpected rise in U.S. weekly jobless claims. The fall against the yen comes after the dollar recorded several fresh six-year highs against the Japanese currency, spurred on by an increasing gap in the trajectory of economic growth in the U.S. and Japan. The U.S. economy is growing faster than economies in both Japan and in Europe.

The dollar (USDJPY) traded at 106.84 yen Thursday morning, compared with Yen106.90 late Wednesday. The dollar reached its latest six-year high of Yen106.97 during the Asia trading day Thursday.

“The data has taken some wind out of the dollar index, but now the focus will be towards the U.S. retail-sales data which represents the consumer confidence in the most naked form,” said Naeem Aslam, chief market analyst at AvaTrade, in a note.

The pound (GBPUSD) recovered against the dollar Thursday, trading at $1.6246, compared to $1.6202 late Wednesday after a poll released Wednesday suggested more Scots will vote to remain a part of the U.K. Colin Cieszynski, chief market strategist at CMC Markets, said he expects volatile trade in the pound versus its rivals until the Sept. 18 referendum.

The euro (EURUSD) traded at $1.2947 Thursday, compared to $1.2921 Wednesday. Cieszynski described the move as a “technical bounce,” rather than due to underlying economic factors.