The
dollar moved higher against the broadly weaker yen on Tuesday after rallying on
Monday when Japan’s finance minister said Tokyo was prepared to intervene in
the currency market.
Japan’s
Finance Minister Taro Aso said Monday that financial authorities are prepared
to intervene in the currency market if excessive moves in the yen are enough to
affect Japan’s economy.
The
dollar had fallen to 18-month lows of 105.05 against the yen last Tuesday after
the Bank of Japan kept monetary policy unchanged, defying market expectations
for additional easing.
Dollar Index has support at 93.60 and resistance at 95.20, currently trading at 94.17.
Close above 95.20 will take it to 96.00--96.50+ marks in days to come , else could test it's support level of 93.60.
Further selling can be initiated below 93.60.
More will update soon!!
