The yen dipped in
Asian trade on 2nd July 2015 as the market geared up for a deluge of U.S.
data that could back expectations for the Federal Reserve to lift
interest rates and briefly steal the spotlight from the Greece's debt
crisis.
The data, from durable goods to nonfarm payrolls, will be released later in the global day, with U.S. markers closed on Friday for the July 4 Independence Day.
Heralding the key payrolls data, the ADP National Employment Report on Wednesday showed private employers added 237,000 jobs in June, the biggest gain since December and ahead of the 218,000 forecast.
"The NFP numbers brought the conversation back to the normal market talk," said Bart Wakabayashi, head of foreign exchange for State Street Global Markets in Tokyo. "There is now more of a focus on the Fed again, while people wait to see what happens with Greece later on."
Prime Minister Alexis Tsipras on Wednesday urged Greeks to reject an international bailout deal, souring hopes of any breakthrough as markets looked ahead to Sunday's referendum that might decide Greece's future in the euro zone.
An opinion poll showed opposition to the bailout leading but, the gap has narrowed significantly as voters were confronted with the hardship resulting from the bank closure and capital controls.
Against the yen, the greenback fetched 123.34, up 0.2 percent on the day and pulling further away from a five-week trough of 121.93 hit on Tuesday.
The euro rose about 0.3 percent on the day to 136.56 yen, and also added about 0.2 percent to $1.1072.
The dollar index edged down about 0.1 percent to 96.178, giving back some of its 0.8 percent gain on Wednesday.
The dollar notched up solid gains against commodity currencies, particularly the New Zealand dollar. The kiwi skidded below 67 U.S. cents for the first time in five years as a slide in dairy prices narrowed the odds on more rate cuts.
It fell as far as $0.6694, and was last down about 0.5 percent on the day at $0.6703.
The data, from durable goods to nonfarm payrolls, will be released later in the global day, with U.S. markers closed on Friday for the July 4 Independence Day.
Heralding the key payrolls data, the ADP National Employment Report on Wednesday showed private employers added 237,000 jobs in June, the biggest gain since December and ahead of the 218,000 forecast.
"The NFP numbers brought the conversation back to the normal market talk," said Bart Wakabayashi, head of foreign exchange for State Street Global Markets in Tokyo. "There is now more of a focus on the Fed again, while people wait to see what happens with Greece later on."
Prime Minister Alexis Tsipras on Wednesday urged Greeks to reject an international bailout deal, souring hopes of any breakthrough as markets looked ahead to Sunday's referendum that might decide Greece's future in the euro zone.
An opinion poll showed opposition to the bailout leading but, the gap has narrowed significantly as voters were confronted with the hardship resulting from the bank closure and capital controls.
Against the yen, the greenback fetched 123.34, up 0.2 percent on the day and pulling further away from a five-week trough of 121.93 hit on Tuesday.
The euro rose about 0.3 percent on the day to 136.56 yen, and also added about 0.2 percent to $1.1072.
The dollar index edged down about 0.1 percent to 96.178, giving back some of its 0.8 percent gain on Wednesday.
The dollar notched up solid gains against commodity currencies, particularly the New Zealand dollar. The kiwi skidded below 67 U.S. cents for the first time in five years as a slide in dairy prices narrowed the odds on more rate cuts.
It fell as far as $0.6694, and was last down about 0.5 percent on the day at $0.6703.
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