Intra-day market moving news and views
Update Time: 10 May 2021 05:30GMT
USD/JPY - 108.86.. Despite Friday's selloff from 109.28 to as low as 108.35 after U.S. payrolls missed market forecast by the most on record, price recovered on intra-day rebound in U.S. yields n the pair climbed steadily in Asian morning as benchmark 10-year U.S. yields rose above Friday's 1.584% high to 1.6000% in Asian trading.
Expect further sideways swings to continue n as long as 108.90 (last Mon's low, now res) holds, downside bias remains for decline from April's 109.69 high to head to 108.05/10 but reckon 107.90/95 would contain weakness. Order book is fairly thin with offers are tipped at 108.85/90 with stops above109.00.
Bids are tipped at 108.45/35 with stops reported below there.
After Friday's release of blockbuster jobs data, no eco. indicators are due out today.
We have Chicago Fed President Evans (FOMC voter) scheduled to speak at 12:30 and then 18:00GMT.
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