Intra-Day Market Moving News and Views
Update Time: 21May 2019 03:00GMT
USD/JPY - 110.17.. Despite dlr's retreat from Monday's 12-day high of 110.32 (Asia) to 109.81 at New York open due to intra-day fall in U.S. yields and usd's weakness, the pair later recovered to 110.06 ahead of New York close due to broad-based rebound in the greenback.
Dlr climbed back to 110.21 in early Asian trading on Tuesday on renewed yen-selling triggered by present rise in U.S. yields, suggesting re-test of 110.32 is likely to be seen but loss of upward momentum should cap price at 110.50/60 today. '
Bids are noted at 110.00-109.90 with stops below 109.80.
Offers are tipped at 110.25/30 with stops above 110.35 and more above 110.50.
Market has shown muted reaction to early comments by Fed's J. Powell. U.S. will release Redbook sales, existing home sales in New York morning. Also we have Fed's Evans and Fed's Rosengren speaking later today.
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