The dollar held steady on Tuesday ahead of several central bank meetings this week. Japan's ultra-loose monetary policy kept the yen near a 10-month low.
EBC Forex Snapshot
19 Sep 2023
The dollar traded sideways on Tuesday as investors await a slew of central bank meetings this week. The yen hovered near a 10-month low due to Japan's ultra-loose monetary policy.
The BOJ will likely opt to overlook forex markets and bore investors again despite Kazuo Ueda’s latest remark that policy normalisation could get underway if inflation target is within reach.
The RBA considered a 25 bps interest rate hike before eventually deciding to adopt a wait-and-see approach, its September meeting minutes showed. But the Australian dollar was not impressed.
Citi (as of 11 Sep) | HSBC (as of 19 Sep) | |||
support | resistance | support | resistance | |
EUR/USD | 1.0688 | 1.1091 | 1.0564 | 1.0880 |
GBP/USD | 1.2448 | 1.2800 | 1.2251 | 1.2629 |
USD/CHF | 0.8556 | 0.8945 | 0.8814 | 0.9053 |
AUD/USD | 0.6365 | 0.6522 | 0.6352 | 0.6519 |
USD/CAD | 1.3387 | 1.3705 | 1.3403 | 1.3630 |
USD/JPY | 144.54 | 148.85 | 145.37 | 148.90 |
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.
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The dollar perched close to a 10-month high against on Thursday, keeping the yen near the psychological level of 150.
2023-09-28The dollar scaled a 10-month high on Wednesday, pushing the euro and sterling to 6-month lows, while Treasury yields remained near 16-year peaks.
2023-09-27On Tuesday, the dollar hit a 10-month high as US bond yields surged to levels not seen since October 2007, and the Japanese yen continued its decline.
2023-09-26