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Yesterday, the U.S. dollar rose above the 100 Japanese-yen-level on as recent stronger data points have eased investors’ fears about U.S. economic growth.
The dollar bought ¥101.16, up from late Thursday’s level of ¥100.48. The dollar managed to bounce above the ¥100 threshold after Thursday’s release of weekly U.S. jobless data, which came in better than anticipated.
Gold for June delivery is trading down $8.8 at $ 1459.8 per ounce on the Comex division of the New York Mercantile Exchange. Yesterday, it fell $5.10, or 0.4%, to settle at $1,468.60 an ounce. Gold on Wednesday climbed $24.90, or 1.7%, to $1,473.70.
The dollar’s climb toward the ¥100 mark had accelerated after Japan’s central bank in early April unveiled a massive stimulus program, but greenback kept running into resistance in its tests of the triple-digit mark until Thursday.
The Aussie was little changed Friday after the Reserve Bank of Australia cut its 2013 inflation forecast, seeing the level at about 2.25% compared with its previous view of 2.5%. In a statement about monetary policy, the RBA also said it expects economic growth to be a little below trend over the rest of this year, before picking up pace through 2014. Earlier this week, the RBA cut its key interest rate by a quarter-percentage point to a record low 2.75%.
The euro traded at $1.3040, little changed from $1.3038 late Thursday. The British pound was also flat against the greenback Friday from late Thursday’s level of $1.5442.
MCX June bullion may open today’s session near Rs 27050 levels with support near Rs 27000 and Rs 26900 levels and resistance near Rs 27110 levels.
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