USD/JPY trades at four-year high; all eyes on UK trade balance data
Trading Floor News May 10, 2013 3:58 PM
<p>- USD/JPY was trading at 101 today, its highest peak in four years. – Japanese investors are purchasing more foreign assets and traders are setting […]</p>
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- USD/JPY was trading at 101 today, its highest peak in four years.
- Japanese investors are purchasing more foreign assets and traders are setting their targets on 101.45 after stop losses below 100 were triggered. The Nikkei closed the day at 14,607.
- Elsewhere, GBP/JPY is trading at 156.17; cable is trading at 1.5428 and GBP/EUR at 1.1847.
- Back in the UK, the top stocks for the day so far are BT, up 9% at 299p after the company revealed positive full year results and raised its outlook. Other top stocks include Shire, up 5% at 2042p and Evraz, up 2% at 175p.
- European stock indices reached five-year highs, supported by central bank stimulus. ArcelorMittal climbed 6% and ThyssenKrupp rose 2% to 15.38.
- In the US, the top stocks for the day included 3M Co at $109.92 and Merck & Co $at 45.5.
- The FTSE was currently trading at 6592, the DAX at 8278 and Wall Street at 15,105.
- Gold is trading at $1456 today and oil at $95.81.
- Looking ahead, key economic data for the day includes the first day of the G7 meetings at UK trade balance data at 9.30am GMT. Also keep an eye out for a speech from FOMC member Evans at 1.25pm, followed by a speech by Fed Chairman Ben Bernanke at 2.30pm and FOMC member George at 7pm.