In Singapore, US dollar eases against Yen
During the late afternoon trading in Singapore today, the US dollar continued to ease against the Japanese Yen. The main reason behind this transition is speculated to be the significant US economic data which would be made public this week, before which, the traders have started slowing down their extended US Dollar positions.
At 0730 GMT here in Singapore, the US Dollar stood at 121.56 yen, a little down from 121.65 yen in Tokyo about 4 hours back. The euro stood at 1.3345 USD here, which was again down from 1.3347 USD in Tokyo trading a few hours ago.
The US data which is due to be released this week comprises of all the retail sales figures for the trading month of May, the most recent beige book details and the “trade in†prices and figures for May on Wednesday of this month.
Also, the producer price index for the month of May is due to be out on Thursday and the consumer price index for the past month should be made public by Friday.
The US Dollar was assisted past week by lasting suspicion that the Federal Reserve may decide on to raising the interest rates finally for the reason that recently there were rises in goods and services prices.
According to a note issued by the United Overseas Bank to its clients, the US economic data due this present week should be a more leading advisor.Â