2023-12-29
EBC Forex Snapshot
29 Dec 2023
The dollar was set to end 2023 lower, reversing two straight years of gains, dragged by market expectations that the Fed could begin easing rates as early as next March.
The yen also underperformed, extending into a third straight year of losses as the BOJ maintained its ultra-loose monetary policy in a year of aggressive interest rate hikes by other central banks.
BOJ Governor Kazuo Ueda said he was in no rush to unwind negative interest rates as the risk of inflation running well above 2% and accelerating was small, NHK reported on Wednesday.
| Citi (as of 14 Dec) | HSBC (as of 28 Dec) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0724 | 1.1017 | 1.0843 | 1.1243 |
| GBP/USD | 1.2326 | 1.2848 | 1.2590 | 1.2905 |
| USD/CHF | 0.8667 | 0.8957 | 0.8283 | 0.8697 |
| AUD/USD | 0.6445 | 0.6526 | 0.6632 | 0.6959 |
| USD/CAD | 1.3381 | 1.3695 | 1.3048 | 1.3492 |
| USD/JPY | 139.48 | 147.50 | 139.65 | 145.29 |
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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