USD/JPY Performance Chart as at 3:30 a.m. Singapore time, 03/05/11

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HISTORICAL DETAILS 

% Change

1 Wk -0.39%

1 Month -1.15%

3 Months -0.72%

6 Months 0.62%

1 Year -12.59%

 

52 WEEK

High 94.99

Low 76.25

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 85.00

Q3 2011 86.00

Q4 2011 88.00

Q1 2011 90.00

 

DAILY DETAIL

Against the yen, the dollar has been flat at ¥81.20 this afternoon. In a knee-jerk reaction to the news that Al Qaeda leader Osama bin Laden was killed on Sunday in a firefight with US forces in Pakistan and his body was recovered, the dollar was bought back broadly. The greenback, under pressure with the US central bank seen as being in no hurry to scale back its easy monetary policy, has taken a beating against its peers recently. Some market observers say traders are ready to buy the dollar above ¥80.90, a 50% retracement of its rise from a record low of ¥76.25 to a high of ¥85.53 hit in early April. The dollar's probably being bought back as dollar-selling had gone a bit too far. But there's no change in the fact that the Fed's exit (from its easy policy) will still be some way off from what the market would deem to be acceptable. Paolo Palazzi-Xirinachs, Chicago