Dollar nears 10-month high - EBC Daily Snapshot

2023-09-28

Summary:

The dollar perched close to a 10-month high against on Thursday, keeping the yen near the psychological level of 150.

EBC Forex Snapshot

28 Sep 2023

 The dollar perched close to a 10-month high against on Thursday, keeping the yen near the psychological level of 150. Finance Minister Shunichi Suzuki issued another warning against excessive volatility in currency moves.

Minneapolis Fed chairman Neel Kashkari said on Wednesday that ample evidence of ongoing economic strength meant that more tightening might be in the pipeline.

AUDUSD

The Aussie pared some loss even as retail sales data disappointed. The sluggish trend in consumer spending is one reason the RBA paused its rate hikes for three consecutive months.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 25 Sep)		HSBC (as of 28 Sep)
	support	resistance	support	resistance
EUR/USD	1.0617	1.0834	1.0401	1.0683
GBP/USD	1.2204	1.2458	1.1979	1.0683
USD/CHF	0.8745	0.9148	0.8994	0.9326
AUD/USD	0.6358	0.6522	0.6284	0.6466
USD/CAD	1.3302	1.3695	1.3353	1.3664
USD/JPY	144.54	148.85	147.11	150.94

The green numbers in the table indicate an increase in data, the red numbers indicate a decrease in data, and the black numbers indicate that the data remains 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.

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