- US President unexpectedly signs the relief bill.
- USD/JPY downside risk seen, trades in technically neutral levels.
- Risk optimism weigh on the greenback
The US dollar selling was in vogue at the start of the new week as market optimism surged after receiving a Brexit-deal on the Christmas eve and the rollout of immunization drive against the coronavirus in Europe using Pfizer vaccine. The ebullient mood got a further fillip when the US President Trump finally agreed to sign the stimulus bill without any amendments.
The USD/JPY sheds weight to trade around 103.50.
November Industrial Production in Japan fell only by 3.4 Percent YoY, displaying more strength than an anticipated fall of 10 Percent. But, compared to the earlier month, Industrial Production failed to impress with zero change against an expectation of 4 Percent jump.
Traders eye the December Dallas Fed Manufacturing Business Index during the US session in a potentially low volume day due to the ongoing holiday season.
At the time of writing, one US dollar buys 103.61 Japanese Yens, down -0.05% as of 01:30 PM UTC.