Investing.com - The yen strengthened in early Asian trade on Monday as details of a deal between Western powers and Iran over the scope of Tehran's nuclear program trickled into the markets, sending gold and crude oil weaker.
USD/JPY traded at 101.26, down 0.01%, in a range of 101.22 - 101.33 ahead of a speech and possible remarks by Bank of Japan Governor Haruhiko Kuroda at 1430 local time (0530 GMT).
Markets were still digesting a deal reached at the weekend that relaxes economic sanctions for the next six months in hopes Western powers can reach a broader agreement on nuclear-arms talks.
But the deal doesn't directly ease restrictions on crude purchases by countries like the United States, though it makes the logistics a bit easier on sales and finance to countries that do buy Iranian crude.
The agreement also will allow Iran to regain access to much-needed goods, including parts for aircraft and cars, and will allow the country to sell refined petrochemical products in global markets.
Prospects for Iran to eventually come back onto the oil market without sanctions sent New York Mercantile Exchange light, sweet crude futures for January delivery to USD94.08 a barrel, down 0.79%, in early Asian trade.
On the Comex division of the New York Mercantile Exchange. gold futures for February delivery traded at USD1,241.55, down 0.25%.
For the week ahead, the U.S. is to release a series of reports on the housing sector, as well as data on consumer confidence and durable goods orders.
On Tuesday, the Bank of Japan is to publish the minutes of its latest policy meeting, which contain valuable insights into economic conditions from the bank’s perspective.
The U.S. dollar index traded at 80.73, up 0.05%.
USD/JPY traded at 101.26, down 0.01%, in a range of 101.22 - 101.33 ahead of a speech and possible remarks by Bank of Japan Governor Haruhiko Kuroda at 1430 local time (0530 GMT).
Markets were still digesting a deal reached at the weekend that relaxes economic sanctions for the next six months in hopes Western powers can reach a broader agreement on nuclear-arms talks.
But the deal doesn't directly ease restrictions on crude purchases by countries like the United States, though it makes the logistics a bit easier on sales and finance to countries that do buy Iranian crude.
The agreement also will allow Iran to regain access to much-needed goods, including parts for aircraft and cars, and will allow the country to sell refined petrochemical products in global markets.
Prospects for Iran to eventually come back onto the oil market without sanctions sent New York Mercantile Exchange light, sweet crude futures for January delivery to USD94.08 a barrel, down 0.79%, in early Asian trade.
On the Comex division of the New York Mercantile Exchange. gold futures for February delivery traded at USD1,241.55, down 0.25%.
For the week ahead, the U.S. is to release a series of reports on the housing sector, as well as data on consumer confidence and durable goods orders.
On Tuesday, the Bank of Japan is to publish the minutes of its latest policy meeting, which contain valuable insights into economic conditions from the bank’s perspective.
The U.S. dollar index traded at 80.73, up 0.05%.