Intra-Day Market Moving News and Views -USD/JPY
USD/JPY - 111.01.. Dlr orbits 111.00 handle in directionless Tokyo morning after yesterday's intra-day strong retreat from 111.48 (Asia) to 110.70 near New York midday due to renewed market jitters of a possible U.S. govt. shut down, however, rising U.S. yields lifted price back up to 111.20 near the close.
Despite U.S. stopgap bill was passed by the U.S. House, as it needs to go through the tough Senate in order to prevent a shutdown by the end of Friday, dlr is not out of the woods, so usd buyers are hesitant to push the pair higher, suggesting range trading would prevail for the time being.
Bids are noted at 110.95-85 with stops below 110.70.
Offers are tipped at 111.20/30 with stops above 111.50.
The only eco. data due out later today is University Michigan consumer confidence at 15:00GMT, however, pay attention to speeches by Fed's Bostic, Fed's Quarles and Fed's Williams. As market showed muted reaction to 'hawkish' Cleveland Fed Mester's hawkish (pun intended) comments (see early update) ahead of Asian open, one can expect market will not react to their speeches also. T.G.I.F.
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AceTrader Team
AceTrader
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