After no immediate reaction to the better-than-expected US consumer sentiment report, it appears investors are warming up to the news. The dollar just inched into positive territory on the session against the yen, trading at Y79.50 from Y79.47 late Thursday, according to EBS via CQG. The greenback has been on a slow, steady march from Y79.31 seen in the five or so minutes following the University of Michigan consumer sentiment report. The report bodes well for the US, especially as part of the country recovers from Hurricane Sandy and the looks toward the looming fiscal cliff. A positive mood among consumers heading into the holiday shopping season could help the economy and thus highlight the growing difference between the US and Japanese economies.
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