USDJPY Hits 3 Month High
The US dollar hit a 3 month high against the Japanese Yen as broad dollar strength led the currency pair higher
The other Yen crosses did not fare as well however with the US dollar and the commodity currencies the only ones rising against the Yen while the Euro, Swiss Franc and British pound sold off. Stocks have failed to extend Monday’s gains and its vulnerability is affecting the Yen crosses. Tonight, the final numbers for Q1 GDP, the current account balance, the trade balance and CGPI are due for release – expect some action.