Intra-Day Market Moving News and Views
12 Jan 2018 04:00GMT
USD/JPY - 111.27.. Dlr remains on the back foot in fairly choppy Asian morning after yesterday's selloff in Europe and then New York to a fresh 6-week trough of 111.05.
Traders citing usd's selloff ahead of New York open due to rally in euro after release of hawkish ECB minutes and then sharp fall in U.S. yields on good demands in U.S. 30-tear bond auction were the key drivers for the pair's decline.
Although short-term specs tried to knock dlr down at Tokyo open on stop hunting, buying interest (Japanese importers on bargain hunting) at 111.06 quickly lifted the pair to 111.35, suggesting range trading would continue in Europe.
Offers are tipped at 111.35/45 n more above with stops above 111.90/00.
Bids are noted at 111.10-00 with stops below there, however, more stops are touted below November's bottom at 110.84.
As mentioned in yesterday's update, market will pay close attention to release of U.S. retail sales n CPI data, if bother set of numbers come out below street forecast, then be prepared for another round of usd bashing..... T.G.I.F....
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