Intra-Day market moving news and views
Update Time: 14 Jan2022 05:30GMT.
USD/JPY - 113.80.. Dlr remained on the back foot in hectic Asian trading on Fri, despite staging a recovery fm Thur's 3-week low at 114.01 (NY) to 114.22 in Australia, the pair came under renewed selling due to safe-haven yen buying on the back of intra-day weakness in Asian stocks following o/n decline in U.S. equities, price penetrated 114.01 to 113.75 ahead of Tokyo lunch break.
Despite intra-day resumption of recent decline, loss of downward momentum should prevent steep fall n expect 113.15 sup to hold. Offers are tipped at 114.10/20 with stops abv 114.40 while some bids are noted at 113.75/65 with some stops below 113.50.
T.G.I.F., US will later release a slew of eco. data and 2 Fed officials are also to speak in NY morning. Pat attention to retail sales n University of Michigan consumer confidence, if actual readings come in stronger than street forecast, this may well trigger a pre-weekend short covering rebound in the greenback.
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