3 May 2016
USD/JPY: fell to an 18-month low - FXStreet
Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY plunged to a fresh 18-month low of 106.13 early Asia before posting a shallow bounce, still trading below the 107.00 figure.
Key Quotes:
"Data coming from Japan indicated that April manufacturing PMI declined to 48.2, against an initial estimate of 48.0 and March final reading of 49.1, below the 50 threshold and with manufacturing conditions deteriorating at the sharpest rate in over three years.
The pair is expected to trade range-bound ahead of Friday's US Nonfarm Payroll report, moreover as Japanese markets will be closed until then, due to the Golden Week holidays."
Key Quotes:
"Data coming from Japan indicated that April manufacturing PMI declined to 48.2, against an initial estimate of 48.0 and March final reading of 49.1, below the 50 threshold and with manufacturing conditions deteriorating at the sharpest rate in over three years.
The pair is expected to trade range-bound ahead of Friday's US Nonfarm Payroll report, moreover as Japanese markets will be closed until then, due to the Golden Week holidays."