USD/JPY trims gains, drops to 123.60

FXStreet (Córdoba) – Greenback weakened in the market during the American session and pushed USD/JPY back below 124.00. The pair dropped to test daily lows but found support at 123.60 and rose back toward 124.00.

Currently trades at 123.85/90 slightly above yesterday’s closing price. Earlier printed a fresh 12-year high at 124.45, before retreating.

USD, JPY among the worst

The yen, the US dollar and the pound are the weakest major currencies today. Economic data from the US showed a modest increase in jobless claims while real estate numbers surpassed expectations with the pending home sales report but greenback failed to benefit. In the UK, a lower than expected reading on GDP growth pushed the pound to the downside and the yen continued to fall across the board, adding to weekly losses.

On Friday, several economic reports from Japan will be released (unemployment, industrial production, among others) and in the US will be the turn of the second reading of Q1 GDP.

Greenback weakened in the market during the American session and pushed USD/JPY back below 124.00.

(Market News Provided by FXstreet)