Dollar up vs yen on Japan stock picture
NEW YORK, April 16 (Reuters) The dollar rose to the highest level in a week against the yen on Wednesday on signs of future buying of Tokyo stocks by cheap canada goose uk Japan canada goose black friday sale state pension fund, but edged lower canadian goose jacket against the euro on traders view that the Federal Reserve is maintaining a dovish stance.
The dollar rose against the yen after Japan Finance canada goose Minister, Taro Aso, promised that by the $1.26 trillion buy canada goose jacket cheap government pension fund would become apparent from canada goose store June, Canada Goose Outlet which helped boost the canada goose clearance sale Nikkei stock index 3 percent.
fact Canada Goose Jackets that it the finance minister discussing it and that a timeline has been put on it June is not very far away both of those (facts) are significant, said Shahab Jalinoos, currency strategist at UBS in Stamford, Connecticut.
The inverse relationship between the Nikkei share index and the yen is well established. Foreign players traditionally sell the yen to hedge the currency risk in buying cheap Canada Goose Japanese shares while a stronger Nikkei typically makes Japanese investors more comfortable with investing abroad, also negative for the canada goose uk shop yen.
The dollar slight dip against the euro, meanwhile, was the first in four trading sessions. The dollar fell slightly canada goose uk outlet against Canada Goose online the euro ahead of Federal Reserve Chair Janet Yellen comments before the Economic Club of Canada Goose Coats On Sale New York after traders braced for more dovish comments from Yellen. economy appeared to be slowly moving toward full employment, but uk canada goose that it would need help from the central bank for some time to come, which fulfilled the dovish stance traders had anticipated.
markets were anticipating continued dovish comments from Janet Yellen, and they were not disappointed, said Joseph Trevisani, chief market strategist at WorldWideMarkets in Woodcliff Lake, New Jersey.
Traders had expected that Yellen would not deviate significantly from the tone of the latest Fed policy meeting minutes uk canada goose outlet released last week and comments she made on March 31 that the central bank commitment to boosting the economy would be needed for some time.
Economic data, meanwhile related website https://www.canadagoosetomall.com Canada Goose Outlet , did little to support the dollar against the euro. factory production increased 0.5 percent in March, according to data from the Fed on Canada Goose Online Wednesday, marking a sign of recovery from a long winter that had put a damper on activity. housing starts increased canada goose clearance 2.8 percent to canada goose coats on sale a seasonally adjusted canada goose coats annual rate of 946,000, canada goose uk black friday while economists polled canada goose factory sale by Reuters had expected starts to rise to a 973,000 unit rate last month. The data somewhat offset the positive manufacturing data.
impact of the data was less significant, said Jalinoos of UBS.
Traders said the Canada Goose sale impact of European Central Bank Canada Goose Parka policymakers hints on implementing further monetary easing continued to wear thin on Wednesday, which also helped the euro recover gain slightly against the dollar.
The dollar fell against the Russian ruble, meanwhile, for the first time in four trading sessions.
Ukrainians have finally acted, said Trevisani of WorldWideMarkets. He buy canada goose jacket said the ruble likely gained some ground against the dollar on Ukraine attempt to forestall separatist actions in Ukraine.
The dollar was last down 0.72 percent against the ruble to trade at 35.99 rubles. (Additional reporting by Patrick Graham in London; Editing by Meredith Mazzilli and David Gregorio).