Published at 02:18 (GMT) 11 Jul
USD/JPY Fixing set at 101.37.
USD/JPY hovering around fixing level at 101.37. with offers at 101.50-60, bids at 101.00-10. The 6-week lows of 101.05-06 seen overnight, lowest since May 21 100.80. Hearing very good bids - real money, Japanese, pension funds, lifers and option bids at 101.00. Offer at 101.40-50.
Some focus on USD/KRW, JPY/KRW - both trading at 2-week highs, following dovish BOK comments. BoK Cut GDP forecast and does not rule out further Base Rate cut after no change decision on Thursday.
USD/KRW hit 1,016.4, up from the open of 1,015.4, and Thursday close of 1,013.4. To highest level since Jun 27 1,017, and up from 6-year lows of 1,008.4.
JPY/KRW back above psychological 10.000 handle, to 2-week highs 10.02/03 level, highest since Jun 25 10.32. Up from 6-year lows below 9.90 handle. A relief for BoK/ Korea MoF, given concerns over KRW rise vs USD, JPY and impact on Korean exports. More upside seen for USD/KRW and JPY/KRW, as Cross/JPY looks offered below 101.50. WL
Recommended Content
Editors’ Picks
EUR/USD trades weak below 1.0800 amid Good Friday lull, ahead of US PCE
EUR/USD remains depressed below 1.0800, as traders lack directional impetus amid minimal volatility and thin liquidity on Good Friday. The pair keenly awaits the US PCE inflation data and Fed Chair Powell's speech for fresh hints on next week's price action.
GBP/USD holds steady above 1.2600 as markets stay calm on Good Friday
GBP/USD trades sideways above 1.2600 amid a typical Good Friday trading lull. A broadly firmer US Dollar could keep any upside attempts limited in the pair ahead of the US PCE inflation data and Fed Chair Powell's appearance.
Gold ends Q1 2024 at record highs, what’s next?
Gold is sitting at an all-time high of $2,236, lacking a trading impetus amid holiday-thinned conditions on Good Friday. Most major world markets, including the United States are closed in observance of Holy Friday, leaving volatility around Gold price highly subdued.
Ripple's move above this key level could trigger nearly 50% rally for XRP
Ripple price has overcome a critical resistance level and flipped into a support floor on the weekly time frame. This development happened while XRP tightly consolidated for roughly 250 days.
US core PCE inflation set to ease in February on month as Federal Reserve rate cut bets for June mount
The core Personal Consumption Expenditures Price Index is set to rise 0.3% MoM and 2.8% YoY in February. The revised Summary of Projections showed that policymakers upwardly revised end-2024 core PCE forecast to 2.6% from 2.4%.