Intra-Day Market Moving News and Views
07 Dec 2017 03:20GMT
USD/JPY - 112.43.. Dlr finally pares losses seen in last 3 days and rose in hectic Asian trading due to broad-based selling in yen as the Nikkie opened higher after recent decline as well as rebound in U.S. yields.
Although dlr remained on the back foot in Asia yesterday and fell from 112.65 (AUS) to 112.00 in European morning due to weakness in Asian n European stocks, price managed to trade above 112.00 in New York n staged a short-covering bounce to 112.37.
Buying emerged at Tokyo open as the N225 rose, this helped the pair climb to 112.49 after tripping stops above 112.40, suggesting decline from this week's high at 113.09 has made a low yesterday and range trading with upside bias is in store.
Bids are noted at 112.35-25 with stops below 112.00.
Offers are tipped at 112.60/65 and more above with stops reported above 12.90.
U.S. eco. calendar is very thin with the usual weekly jobless claims being the only data due out which is just as well ahead of Fri's key non-farm payrolls number.
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