The US Dollar bounced back for a second straight session against a six-month Japanese Yen against the Japanese Yen

Dubai – Bassam Rashed – The US Dollar fluctuated in a bearish range during the Asian session The highest since January 9 against the Japanese yen following economic developments and data that followed on the Japanese economy and on the eve of economic data expected Thursday by l & # 39 US economy and following the semiannual testimony of the governor of the Federal Reserve Jerome Powell in Congress.

At 06:03 GMT, the US dollar was down against the Japanese yen (.JPY) by 0.06% at 112.79 after opening levels of 112.86 after recording a low of 112 65. At 112.89.

We followed the Japanese economy by reading the trade balance, which showed the surplus increased to 721 billion yen against 578 billion yen in May, contrary to forecasts that indicated the reduction of the surplus to 531 billion yen, while the revision of the balance Trade in commodities rose from 297 billion yen to 66 billion yen, less than the forecast of 155 billion yen, the growth of imports slowed more slowly than the growth of exports recorded last month.

On the other hand, the markets are looking for the US economy, the world's largest economy, weekly reading of the aid requests index, which could reflect a rise in 6,000 requests to about 220,000 requests during the week of July 14 Weekly reading of current UI claims could indicate a drop from 14K to about 1725K during the week of July 7th.

This comes in conjunction with the disclosure of the Philadelphia Industrial Index, which could reflect an expansion to 21.5 from 19.9 in June, before we receive any preliminary remarks from the Federal Committee member Randall Quarles open market The round table on alternative interest rates led to the release of key indicators that could show an acceleration of growth to 0.5% vs. 0.2% in May.

Powell said in his monetary policy talks to the Senate Committee on Banking, Housing and Urban Affairs last Tuesday and before the Financial Services Committee on Wednesday that the data reflect the strength of economic growth this year. In the labor market and the growth of inflationary pressures, it is difficult to predict the effects of trade decisions and to stimulate fiscal policy.