Talking-Forex.com
Talking-Forex.com
Another day of USD selling as the aftermath of the FOMC last night continued to play through. Notable gains for Cable and EUR/USD, printing 1.1342 and 1.4500 highs high, with the GBP rate getting an added boost from EUR/GBP sales. Some of the gains were pretty erratic, with the BoE minutes (rates unchanged) reiterating the next move would likely be up, and this prompting a fresh spur for a tentative move through 1.4400, eventually taking out last Friday’s highs in the process. However, the most notable move of the day was USD/JPY through 111.00. At the third time of asking, we pushed through the figure, but only managed a low of 110.65 before talk of BoJ checking, later denied, saw a spike back into the mid 111.00s – where we have been consolidating since. After some decent gains, both the AUD and CAD settled into consolidation mode, but USD/CAD breaking below 1.3000 to hit 1.2940. WTI pushing higher but still rejecting $40.0 as yet. AUD/USD through .7600 now set for a steady grind higher into the .7700-.7800 zone, but no erratic spot price action like that seen in the above pairs. Alongside the BoE, the Norges bank cut rates, but stated they were towards the lower band and this gave the NOK a fresh bid. SNB reiterated that the CHF was too strong and that they were ready to intervene, but little impact on EUR/CHF – net lower on the day. US Philly Fed better than expected, as was initial claims, but both of little consolation post Fed.
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