USD/JPY consolidates weekly losses

FXStreet (Córdoba) - The USD/JPY continues to trade near weekly lows but after Wall Street opening and following PPI data from the US rose to 101.70. At the moment trades at 101.58, up 0.06% for the day but 175 pips below the price it had at the beginning of the week.

USD/JPY weekly reversal

The US dollar is about to post the first weekly decline after rising in the previous three and is headed toward the second worst weekly result of 2014. Exactly seven days ago the reversal started after the release of the US employment report, when the USD/JPY was testing levels on top of 104.00.

After plummeting on Friday, fell in three out of the next four days as the Yen gained momentum amid risk aversion.