Intra-Day Market Moving News and Views- USD/JPY
|Intra-Day Market Moving News and Views
11 Apr 2017 02:15GMT
USD/JPY - In stark contrast to yesterday's firmness in Asia, dlr remains under pressure after intra-day break of New York low at 110.81 to 110.62 at Asian open due to renewed broad-based yen buying.
However, modest buying interest by Japanese names (importers) contained weakness, suggesting range trading is in store.
Traders cited active yen buying in New York morning just ahead of European closing due partly to falling U.S. Treasury yields and renewed geo-political tensions were the causes of dlr's weakness n more choppy sideways swings are expected.
Offers are tipped at 110.90/00 with stops above 111.20, bids are noted at 110.65-60 with stops below there, however, there is market report of good buying interest at 110.20/00 area.
U.S. economic calendar is very light today with Redbook retail sales bring the only data due out.
Later in the day, Minneapolis Fed President Neel Kashkari (voter) will be speaking at 17:45GMT.
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