Intra-Day Market Moving News and Views- USD/JPY

AceTrader Team AceTrader

Intra-Day Market Moving News and Views
20 Apr 2017 02:18GMT

USD/JPY - 109.00. The pair swung fairly wildly in Wednesday trading. Despite rising steadily from 108.38 (Australia) on continued cross-selling in yen in Asia on then dlr-supportive comments by U.S. Treasury Secretary Mnuchin during European morning and then gain to session highs of 109.18 in New York morning, price fell back to 108.69/70 in New York afternoon on cross unwinding in yen.

Today, dlr has ratcheted higher in Asia as modest gain in the Nikkie plus rebound in U.S. Treasury yields (benchmark 10-year yield has risen from Tuesday's 5-month low of 2.165% to 2.214% today) have boosted risk appetite, suggesting choppy sideways swings with near term upside bias remains.

Bids are noted at 108.80-70 with some stops below there, more buying interest is reported at 108.40-30.
Offers are tipped at 109.15/25 with stops touted above 109.40.

U.S. will release weekly jobless claims, Philly Fed business survey n leading indicators. Fed governor Powell will speak at a financial forum at 12:00GMT.

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AceTrader Team

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