Dollar Strong Against Yen Ahead of Job Data – 9 January, 2019

The dollar is on track for its best week in over two months as U.S. economic data is released and tensions in the Middle East ease. The dollar index was up 0.6% against a basket of major currencies. Against the yen, the dollar was up 1.3% to 109.53 yen per dollar. The pound hit an overnight low of $1.3014 before recovering to trade at $1.3078 after hits of a possible rate cut should the economy continue to weaken. The greenback was steady at $1.110 per euro, While the Australian dollar was 0,3% higher at $0.6876 on higher than expected retail sales. The December job market data expected to be released later in the day will further determine the future of the currency.