The US dollar against the Japanese yen advanced and continued its upside movements, after the US economy released last Friday its GDP for the fourth quarter, which widened by 3.1%, more than expected, compared with the 2.6% over the third quarter. Further, the pair recorded today a new high level, and the dollar gained for a third day versus the yen on optimism the recovery in the world's largest economy is gaining momentum.
The pair ended Friday's session at 81.56, recorded the highest at 80.86, while the daily and four hours momentum indicators show the pair in an overbought area.
The pair started Monday's session with a slight decline, after it gained for an 8 straight day, as the market is focused on the US fundamental, while the world's largest economy issued last Friday a cheerful report, where its economic growth grew more than expectations, pushed the investors to buy the US dollar. Moreover, the greenback strengthened against the Australian dollar.
The pair closed Friday's session at 1.0245, which recorded a high of 1.0298, whereas the four hours momentum indicators give selling signs.
The NZ dollar started Monday's session with a decline after The pair gained during Friday's session, but it failed to continue its upside movement, as the US economic growth has picked up during the fourth quarter, supported the pair to loss its earnings.
The New Zealand dollar against the greenback closed Wednesday's trading session at 0.7527, after recorded the highest level at 0.7574, while momentum indicators supported the pair's downside trend and give selling signs.