Intra-day Market Moving News and Views
02 Dec 2015 02:13GMT
USD/JPY - ...... Dlr moves narrowly in subdued Asian trading on Wednesday following yesterday's intra-day wild swings.
Although the pair fell from 123.28 to 122.64 due to broad-based long liquidation in the greenback is Asian morning, active cross-selling in yen sent price higher to 122.99.
Dlr later pared intra-day loss n climbed back to 123.20 at New York open but downbeat U.S. ISM mfg PMI (U.S. manufacturing contracted in Nov for the first time in 3 years) quickly knocked the pair lower, dlr later tumbled to 122.76 before staging a recovery near New York close.
Although early dovish comments by BoJ's Iwata suggests sideways trading above 122.76 would continue, offers are noted at 123.10/20 and more above should prevent strong gain and price may rachet lower later in the day.
Bids are reported at 122.80-60 area with stops below there.
However, a mixture of buying interest and stops is reported at 122.25-20.
Data to be released on Wednesday:
Australia GDP, U.K. construction PMI, EU inflation, producer prices, Canada rate decision, U.S. ADP national employment, labour cost, productivity, ISM-New York Index, Beige book.
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