USD/JPY better offered on Brexit frenzy, 106.81 high to 102.99 the low

Ross J Burland FXStreet

USD/JPY is currently on the offer as markets trade the EU referendum results that are mixed as expected.

There have been huge moves of 1000 pips in some cases across the board while USD/JPY 106.81 to 102.99 the low. We have already seen a number of votes from jurisdictions, the largest FX mover was Sunderland:

The First Results are In – Sunderland Leaves Strongly - TDS

We have had some data from Japan, PPI services for May year on year 0.2% vs expected 0.1% and previous 0.2%.

Asia opened in positive territory while the FTSE 100 futures gapped lower as the leave campaign us currently ahead with 8 of 382 counting area results.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD weakens below 1.1700 as Middle East tensions drive US Dollar strength

The EUR/USD pair trades with mild losses around 1.1685, the lowest since late January, during the early Asian session on Tuesday. The US Dollar gathers strength against the Euro as escalating tensions in the Middle East boost safe-haven currencies. The preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone will be published later on Tuesday.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold clings to gains as US-Iran conflict continues to underpin safe-haven assets

Gold retains positive bias for the fifth consecutive day on Tuesday as rising geopolitical tensions in the Middle East continue to underpin safe-haven assets. However, a bullish US Dollar could keep the bullion below its highest level since late January, set on Monday, warranting caution before positioning for any further appreciation.