Intra-Day Market Moving News and Views

Update Time: 24 Jan 2020 04:30GMT

USD/JPY - 109.45... Dollar met renewed selling at 109.86 in Australia yesterday and fell to 109.50 in European morning on dampened risk trading due to concerns over spreading of coronavirus in China as well as selloff in the Nikkei-225. Despite rebounding to 109.65 ahead of New York open, the pair then dropped to a 13-day low of 109.27 in New York on falling U.S. Treasury yields before recovering to 109.57 at Asian open today.

Yesterday's fall below Tuesday's 109.77 low to 109.27 suggests recent decline from last Friday's fresh 7-1/2 month peak at 110.28 has once again resumed and further weakness to 108.95/00 would be seen after consolidation, however, reckon 108.62/66 should hold and yield rebound. Offers are tipped at 109.55/60 with stop above 109.80 while bids are noted at 109.10-00 with stops below there.

On the data front, U.S. will release Markit manufacturing PMI and Markit services PMI at 14:45 GMT.

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