Intra-Day Market Moving News and Views
Update Time: 22 May 2020 04:30GMT
USD/JPY - 107.62.. Despite initial bounce to 107.76 at Tokyo fixing, price quickly retreated to 107.56.
Price showed muted reaction after BOJ's emergency meeting ended with unchanged rate decision.
Despite early bounce from 107.34 (Wed) to 107.84 in European morning yesterday, subsequent retreat to 107.55 in New York signals choppy trading below Tuesday's 1-month peak at 108.08 would continue, however, intra-day broad-based usd's strength suggests buying the pair on dips is favoured.
Offers are tipped at 107.75/85 with stops above there while bids are noted at 107.55-45 with stops reported below 107.30.
T.G.I.F., after Thursday's data dump, no economic data is due out today in the U.S. and no scheduled virtual speech by Fed official. Trading may thin out after European close ahead of long weekend holiday as U.S. markets are closed for Memorial Day holiday next Monday.
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