After its losses during US trade the USD slid a little further during the Asian session. The ranges were smaller, but the USD gained ground across th
After
its losses during US trade the USD slid a little further during the
Asian session. The ranges were smaller, but the USD gained ground
across the majors board. After a solid bounce from 153.00 to 153.70
or so USD/JPY dropped back to 153.00 and spent an hour or so
straddling the big figure before finally breaking down to around
152.75. Its just above 153.00 again as I update. No intervention was sighted
today, but do be aware that Japan’s finance minister Suzuki and Bank
of Japan Governor Ueda will hold a press conference on the sidelines
of the ADB meeting at 1345 GMT / 0945 US Eastern time.
On
the data front the flow of info was light. Housing
finance data
from Australia rose, to a 19 month high.
European
Central Bank chief economist Lane spoke (virtually) at an event on
the US west coast. He didn’t mention a June rate cut. He did say
that as the data points to inflation returning toward target the more
the Bank will be able to remove its restrictions.
Bank
of Korea Governor Rhee spoke, I read his comments as having
implications for the Bank of Japan (see bullets above for detail).
It’s
a packed agenda for the balance of Friday, but have a great weekend
after it all everyone!
***
Bitcoin inched higher too:
www.forexlive.com