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USD/JPY stalls at 98.60

FXstreet.com (Chicago) – USD/JPY accumulates 0.09% daily losses so far after dropping from 99.00 zone earlier today at the release of the US housing market results. The greenback has been unable to reach earlier levels but the pair continues navigating around 3-week highs.

Disappointing US data

Rumors linger around the reason why new home sales data failed to meet expectations. Higher US mortgage rates may be the explanation behind why new home sales (MoM) for July dropped to 0.394M vs. previous 0.455M and expected 0.485M. In Japan the Nikkei rose 2.21% and Wall Street trades with gains so far as the …read more