Forexpros – Forexpros – The U.S. dollar eased lower against the Japanese yen in Asian trade Friday, as announced moves by European finance officials to address the region’s debt crisis, cooled enthusiasm for the safe-haven greenback.In mid-day Asian trade USD/JPY hit 76.67, the pair’s lowest since Thursday; the pair subsequently consolidated at 76.69, slipping 0.05%. The pair was likely to find support at 76.10, the low of September 22, and resistance at 77.27, Monday’s high.European Central Bank President Jean-Claude Trichet said Thursday the ECB would begin a two-fold program to ease concerns in financial markets over Europe’s sovereign debt threats.Trichet said the ECB would begin buying USD53 billion in covered bonds and institute longer term refinancing operations to commercials banks in the euro-zone beginning this month. The ECB voted to maintain interest rates unchanged at 1.5%.Earlier Thursday, the U.S. Department of Labor reported that the number of Americans filing for initial jobless benefits for the week ending September 30 rose by 6,000, to a seasonally adjusted 401,000.Market expectations were for jobless claims to rise to 411,000 after hitting 395,000 the previous week.News from Europe as well as a better than expected jobs report helped lift Wall Street shares in the Thursday session.The Dow Jones Industrial Average added 1.68%, the Nasdaq Composite Index rose 1.88%, and the S&P 500 was lifted 1.83%.Meanwhile, the yen moved higher against euro but down against the British pound with
EUR/JPY down 0.13% to hit 102.93, and GBP/JPY higher by 0.05% to hit 118.54.
The Leading Indicators Index, a composite index of 12 economic indicators compiled by the Japanese Cabinet Office, was scheduled for release later Friday.
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