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

Intra-Day Market Moving News and Views
25 May 2017 03:04GMT

USD/JPY - ..... Price has moved relatively sideways after decline from 112.13 (NEW YORK morning high) to 111.48 after release of cautious (mildly dovish) Fed minutes which had led to broad-based usd's decline in late NEW YORK trade.

Intra-day usd's firmness in Asia suggests consolidation with downside bias remains due to falling U.S. Treasury yields (benchmark 10-year yield is currently at 2.253% vs Wed's close of of 2.266%), so selling the greenback on recovery is favoured but steep decline may not be seen ahead of release of key U.S. GDP data tomorrow.

Offers are tipped at 111.70/80 n more above with stops reported above 112.15/20. 
Minor bids are noted at 111.50-40 with stops below 111.30.

U.S. will release initial weekly jobless claims, trade balance, wholesale inventories n Kansas City mfg. activity index. At 14:00GMT, U.S. Federal Reserve Board Governor Lael Brainard (voter) will participate in panel discussion on global economy.