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USD/JPY hits fresh highs above 114.70 ahead of ADP

FXStreet (Córdoba) - USD/JPY continued to rise and reached a fresh 7-year high ahead of the release of employment data in US at 114.76. The pair remains near the highs as the US dollar climbs further across the board.

“The USD has recovered overnight, boosted not only by the strong outcome for the Republicans in yesterday’s election, but also by comments by BoJ’s Governor Kuroda, who has vowed to do whatever he can to achieve the BoJ’s 2% inflation target and noted that he sees no limit to the measures the central bank can take”, mentioned analysts from TD securities.

USD/JPY with data ahead

Volatility could persist over the coming hours. At 13:15 GMT the ADP employment report will be release and it could have an impact on the USD/JPY. The private payroll is expected to show an increase of 220.000; a larger number could boost the US dollar.

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