Intra-day news and views and data to be released today – USD/JPY
|Intra-day market moving news and views
Update Time: 21 Jun 2021 05:30GMT
USD/JPY - 110.09.. Despite trading narrowly at Tokyo open following Friday's retreat from 110.48 to 110.05 on broad-based buying in yen due to risk-off trade (Nikkie currently down over 3% n have a 1-year low of 27,899), price edged lower in tandem with U.S. yields (benchmark 10-year hit a near 4-month low of 1.4095%, circa 1.4112%).
Although range trading is in store with near term mild downside bias due to renewed cross-buying in yen, as long as Friday's 109.95 low holds, consolidation with mild upside bias remains.
Offers are tipped at 110.30/40 with stops above 110.50 while bids are touted at 110.95/109.95 with stops reported below 109.80.
No eco. data is due out from the U.S. today, however, we have a number of fed officials scheduled to speak in New York session, please refer to our EI page for details. Pay attention to their comments as market reacted to St. Louis Fed President Bullard's hawkish comments in New York morning n bought USD broadly, pushing the dollar index to a 9-week high.
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