The dollar tread water on Friday

2024-03-29
Summary:

2023.3.29 USD flat, Q1 up vs. majors. Yen below 152 prompts a Japan emergency meeting.  FM blames speculation and prepares an intervention.

EBC Forex Snapshot,29 Mar 2024


The dollar tread water on Friday but is riding high against almost every major currency in Q1. The yen faltered towards the 152 level, advancing an emergency meeting to arrest its decline.


The meeting between the MOF, the BOJ and Financial Services Agency, planned to be held on Thursday, was brought forward to Wednesday to maximise the psychological impact on markets, said the source.

USDJPY

Separately, Finance Minister Shunichi Suzuki said there were "speculative" moves behind the recent plunge, suggesting authorities remained on stand-by to intervene in the market.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 25 Mar) HSBC (as of 28 Mar)

support resistance support resistance
EUR/USD 1.0695 1.1017 1.0757 1.0937
GBP/USD 1.2503 1.2896 1.2509 1.2830
USD/CHF 0.8741 0.9112 0.8820 0.9163
AUD/USD 0.6443 0.6691 0.6468 0.6633
USD/CAD 1.3359 1.3607 1.3451 1.3648
USD/JPY 146.66 151.91 147.87 153.37

The green numbers in the table indicate that the data has increased compared with the previous time; the red numbers indicate that the data has decreased compared with the previous time; and the black numbers indicate that the data has remained unchanged.


Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The yen was trading around 156 on Monday

The yen was trading around 156 on Monday

Investors await clues on US interest rates as the dollar holds steady. Fed officials are cautious despite weak inflation signals.

2024-05-20
Dollar's biggest 2.5-month fall vs. euro Friday

Dollar's biggest 2.5-month fall vs. euro Friday

The dollar weakened versus the euro this week on signs of lower inflation and a softer US economy, raising Fed rate-cut expectations.

2024-05-17
US Dollar Slips to Multi-Month Lows on Thursday

US Dollar Slips to Multi-Month Lows on Thursday

US core inflation hits a 3-year low, causing the dollar to plummet; the Australian dollar also falls from a 4-month peak due to a weak jobs report.

2024-05-16

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EBC Financial Group is owned and operated by EBC Group.
EBC Financial Group (SVG) LLC is authorized by the St.Vincent and the Grenadines Financial Services Authority(SVGFSA),and the company registration number is 353 LLC 2020. with registered address at Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines.
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EBC Financial Group (UK) Limited is authorised and regulated by the Financial Conduct Authority. Reference Number: 927552. Website： www.ebcfin.co.uk
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Business Address: Level 17, Dashwood House, 69 Old Broad Street, London, England, EC2M 1QS,United Kingdom.Email Address : [email protected]. Telephone : +44 20 3376 9662
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