Intra-Day Market Moving News and Views
Update Time: 26 Jun 2019 03:00GMT
USD/JPY - 107.48.. The greenback caught a bid at New York midday on Tuesday and rallied from 106.84 to 107.41 after Fed's Bullard and then chairman J. Powell dampened recent market expectation of aggressive rate cuts by the Fed, despite subsequent retreat, the buck regained traction at Asian open as traders bought usd broadly vs its G4 counterparts.
Despite yesterday's initial weakness to a fresh 5-1/2 month bottom at 106.79 due to active safe-haven yen buying on escalation of U.S.-Iran tensions, subsequent rebound to 107.41 in New York, then intra-day break above there confirms recent downtrend has made a temporary low and 1-2 days of choppy trading with near term upside bias is seen.
Bids have been raised to 107.20-10 with stops below 106.75 while offers are tipped at 107.50/55 with stops above 107.85.
U.S. will later release MBA mortgage applications, durable good order, goods trade balance and wholesale inventories.
Also we have S. Francisco Fed President Daly speaking at an event in New York at 15:30GMT.
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