Dollar recovering and trading at 88.59




The dollar gained territory against the yen and is trading at 88.59. Earlier, the pair had opened on 88.45 and posted an intraday high of 88.62. Since then, the pair has maintained upward tendencies. The USD/JPY finds support at 88.3087, resistance at 88.9017 and is considered slightly bullish.

According to the Federal Reserve's influential Beige Book, the US economy is improving though at a reduced rate. While the US economy has continued to improve this year, growth has not been even across al sectors. Manufacturing and consumer spending grew while property and construction weakened. The labour markets also remained soft.
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