The greenback weakened against the Japanese yen in New York session on Tuesday (June 7, 2016). Uncertainty about Fed rate weighed on USD. The uncertainty came up after disappointed US job data which were released last week. Nevertheless, Janet Yellen said that market was overreacted to the data. She also said that in general US job market remains positive.
Yet, market expects that the Fed will not raise rate this month. July possibly is too soon and September remains uncertain.
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Eko Trijuni has been trading forex full time since 2005. He is now the Head Market Analyst for FOREXimf.com. His specialty is technical analysis.