Intra-Day Market Moving News and Views
Update Time: 15 July 2020 05:30GMT
USD/JPY - 107.25... The greenback went through a roller-coaster ride yesterday as despite dropping to session lows at 107.13 in Asia, price rose to an intra-day high at 107.43 at New York open due partly to cross-selling in jpy. However, the pair met renewed selling there and retreated to 107.16 near New York closing on usd's broad-based weakness.
Although dollar has retreated after yesterday's break above Monday's high at 107.31 to 107.43 and minor consolidation would be seen, as said move signals decline from July's peak at 108.16 has ended at 106.65 last Friday, upside bias remains. Bids are now seen at 107.10/20 with stops building up below there whilst initial offers are noted at 107.90/00.
The Bank of Japan is scheduled to announce its interest rate decision shortly (circa 03:00GMT) and although the central bank is widely expected to keep its rate unchanged, investors should pay attention to Governor Kuroda's press conference at 06:30GMT.
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