The yen advanced to its highest mark in nearly two weeks against the greenback Tuesday morning in New York. The Japanese currency gained ground through much of the early-to-mid morning, reaching an intraday high of 122.80 at 5:20 am ET. The yen pulled back from some of its gains soon after, fetching a mark of 122.94 against its American counterpart at 6:47 am. This is compared to an intraday low of 123.49 at 1 am. Greenback traders looked ahead to Tuesday`s release of new home sales in May.
Against the euro, the yen moved ahead to a nearly two-week high Tuesday morning in New York. The Japanese currency advanced through most of the early-to-mid morning to hit an intraday high of 165.11. The yen pulled back from some of those gains after that to trade at a mark of 165.45 at 6:52 am against its European counterpart. Traders considered data showing that French housing starts in May fell 4.7% during the three months to May.
The yen ticked higher against the sterling Tuesday morning in New York. The Japanese currency gained ground through most of the early and mid-morning, reaching an intraday high of 245.22 at 5:20 am ET. The yen pulled back from some of its gains, fetching a mark of 245.74 against its British counterpart at 6:55 am. This is compared to an intraday low of 246.83 at 12:50 am. Sterling investors looked ahead to Thursday`s release of nationwide housing prices for June.
The Japan Corporate service price index rose 1.4% from the previous year for the tenth consecutive month, a report from Bank of Japan showed Tuesday. Last month, the index climbed a revised 1.0% from a year ago. The CSPI stood at 94.2 points in May, up 0.1% from the prior month, when it remained unchanged over March.
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