Forex: USD/JPY ends month below 87.00, first time in 15 years

July 31st, 2010

FXstreet.com (Córdoba) – The Yen rose for the third consecutive month against the Dollar and reached on Friday a new 2010 high. USD/JPY fell more than a hundred pips from last Friday’s close and ended the week around 86.40 (lowest monthly close since June of 1995).

Greenback lost momentum during the week affected by weak economic data and falling Treasury yields triggered the demand for the Yen.

Despite rising against the Dollar, the Yen finished near the same price level it had at the beginning of the week against commodities currencies and slightly lower against the Europeans.