U.S. dollar against the Japanese yen during the Asian session recorded decline on Monday amid mixed economic data from Japan and fears of a disruption in the U.S. government that led traders to be looking for alternatives for the safe haven of the dollar.
In Asian trading on Monday, indications showed lower dollar / yen to record 97.83 with 0.42 %. This pair will find most likely support at 97.75, the lowest price since September 18 and resistance at 99.03, the highest price on Friday.
In the last week, the pair was down by 0.50 %. U.S. House of Representatives on Saturday agreed to enact legislation that would delay implementation Obama care, and health care package that President Obama issued in 2010. This procedure aims also to strip the Republican Obama Care controversial tax on manufacturers of medical devices.
However, the Senate Harry Reid promised, a Democrat from Nevada, will use his influence veto against legislation of the House of Representatives. The man had said in the Senate that he will not pass any budget measure to fill the gap, which includes great amendments on Obama Care. During this raging battle, the U.S. dollar index and the S & P 500 futures fell during the Asian session on Monday.
Separately, the Japanese Ministry of Economic Trade and Industry said that Japanese retail sales rose 1.1 % last month after a 0.3 % decline in the previous month. Analysts had expected retail sales to rise by 1% in the previous month.
More , the euro / yen declined by 0.56 % to hit 132.11 after rising political tensions in Italy , the third largest economy in the euro zone. AUD / JPY declined by 0.51% to hit 91.06 after the Reserve Bank of Australia said that the Australian private sector credit rose 0.3 % last month after a 0.4 % rise in the previous month. Analysts expected a 0.4 % increase in the previous month.