Intra-day market moving news and views
Update Time: 11 Jun 2021 05:30GMT.
USD/JPY - 109.40. Dlr moves narrowly in relatively subdued Asian morning after yesterday's 'wild' swings in hectic NY morning trading. Despite a brief jump in tandem with U.S. yields to 109.79 after U.S. CPI came in higher than market estimate, intra-day sharp fall in U.S. yields where benchmark 10-year tumbled to a 3-month low of 1.4318% (circa 1.4352%) knocked the pair down to 109.31.
As dlr's fall from 109.79 to 109.31 signals recovery from this week's low at 109.20 (Monday) has ended n recent decline would head to next obj. at 109.04, break would extend to 108.71/76 next week. Therefore, selling dlr on recovery in anticipation of such move is recommended.
Offers are tipped at 109.45/55 n more above there with stops above 109.80.
Bids are noted at 109.30-25 with stops below 109.20 n 109.00.
T.G.I.F., U.S. eco. calendar is pretty thin with University of Michigan consumer sentiment for Jun being the only data due out. Traders will continue to take cue from movement in U.S. yields n S&P 500.
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