Session Recap: Yen strengthens further

FXstreet.com (Córdoba) - The Yen has continued to strengthen during the American session amid rumors there's a hedge fund in trouble and it is forced to liquidate carry trades, with USD/JPY falling other 130 pips during afternoon trade to fresh lows in the vicinity of 95.60.

Meanwhile, the US dollar remains under pressure across the board and has seen a late drop versus competitors. EUR/USD and GBP/USD are threatening daily highs at 1.3310 and 1.5640 respectively ahead of the Wall Street closing bell. And speaking of US markets, main indexes are lower, although off session lows.

Main Headlines in America:

US: Redbook Index fell 0.5% MoM

UK: NIESR GDP Estimate up 0.6% in May

US: Wholesale Inventories grow by 0.2% in April

Commodities Brief – Precious metals inch off lows, crude faces key pivot

Asmussen and Weidmann make their cases before the German Constitutional Court

US markets grinding lower as BoJ stayed put