Intra-Day Market Moving News and Views
03 May 2016 02:49GMT
USD/JPY - ...... Dlr is nursing loss in then Tokyo trading as Japan's financial markets (markets will re-open on Friday) are closed for so-called Golden Week holiday.
The pair met renewed selling at 106.46 just ahead of Asian opening on what traders cited as speculative yen-buying, although price briefly penetrated yesterday's 18-month trough of 106.14 to 106.05, price quickly recovered on short-covering and climbed back to 106.31, suggesting range trading is in store in European morning session.
As indicated in yesterday's update, there is report of buying interest at 106.10-00 area (some from Japanese importers) with some stops touted below 106.00.
Some offers are tipped at 106.40/50 and more at 106.75/85 with stops above there, more stops are reported above 107.00.
Pay attention to release of U.S. ISM New York index as dlr briefly fell in New York morning on weaker-than-expected ISM mfg PMI.
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