FXstreet.com (Córdoba) - USD/JPY jumped on Friday, rose for the first time after three days and posted the biggest daily increase since August. The pair peaked at 89.87, hitting the highest price in almost four days. During the American session the Dollar extended previous gains and rose more than 70 pips.
James Hyerczyk of ForexHound.com, affirms: Yesterday's move through .8800 was not enough to attract new sellers and traders quickly covered their short positions. Bernanke's comments about raising interest rates is causing Yen traders to lighten up long positions on the thought that the Japanese Yen will become a carry currency once the Fed begins to raise rates.