Intra-Day Market Moving News and Views
04 Mar 2015 02:21GMT
USD/JPY - ...... The greenback tumbled from yesterday's Asian high at 120.27 to as low as 119.38 due to active cross buying in jpy together with the retreat in Nikkei-225 futures following the decline in U.S. Dow Jones index which closed down 85 points to 18203.
Offers are now tipped below NY res at 119.79 with stop building up above 119.91.
On the downside, bids are located at 119.50-40 and more at 119.30.
Comments from BOJ's Miyao, quote:
very likely to achieve 2% price stability target;
precise timing of reaching 2% inflation may be sooner or later than intended;
improvements in output gap, labour demand suggest upward pressure on prices to increase;
a central bank could lose policy flexibility if it provides overly specific information about time spans and economic indicators.
Yesterday, although the greenback found renewed buying at 119.57 ahead of European open and rebounded to 119.91 in European morning, renewed selling emerged and price tumbled to session low at 119.39 on dlr's broad-based weakness before staging a brief recovery.
Data to be released on Wednesday:
Australia GDP, China HSBC services PMI, Italy services PMI, France services PMI, Germany services PMI, EU services PMI, retail sales, UK services PMI, Canada BoC rate decision, U.S. ADP employment and Fed beige book.
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