The yen barely moved in Asian trading on Monday

2024-04-22
Summary:

The yen stayed steady in Asian trading on Monday, while the US dollar held near five-month highs after last week's policy and geopolitical changes.

EBC Forex Snapshot, 22 Apr 2024


The yen barely moved in Asian trading on Monday and the US dollar was perched just off five-month highs after last week's hectic policy and geopolitical developments.


The yen was close to the 155-level that may trigger possible intervention by Japanese authorities. Trader positions betting it will weaken have become stretched, reaching record levels, data from CFTC showed.

USDJPY

After the sharp decline in the yen and the won, the US, Japan and South Korea said in a trilateral statement released last week that they will continue to consult closely on FX market developments.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 15 Apr) HSBC (as of 22 Apr)

support resistance support resistance
EUR/USD 1.0517 1.0865 1.0540 1.0826
GBP/USD 1.2337 1.2709 1.2253 1.2599
USD/CHF 0.8999 0.9148 0.9014 0.9169
AUD/USD 0.6443 0.6668 0.6303 0.6587
USD/CAD 1.3478 1.3855 1.3537 1.3908
USD/JPY 150.88 153.39 152.03 156.01

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 Canadian dollar rebounded from an eight-week low

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Following strong economic news, the dollar was steady on Friday. US GDP grew at a 2.8% annual rate last quarter, beating expectations.

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The yen reached a 2.5-month high on Thursday, with the dollar, euro, and sterling falling over 1% ahead of next week's BOJ meeting.

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Australian Dollar Falls 7% in Two Weeks

Australian Dollar Falls 7% in Two Weeks

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EBC Financial Group is a co-brand shared by a group of entities including:
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.
Other Relevant Entities
EBC Financial Group (UK) Limited is authorised and regulated by the Financial Conduct Authority. Reference Number: 927552. Website: www.ebcfin.co.uk
EBC Financial Group (Australia) Pty Ltd (ACN: 619 073 237) is authorised and regulated by the Australian Securities and Investments Commission (Number: 500991). EBC Financial Group (Australia) Pty Ltd is a related entity of EBC Financial Group (SVG) LLC and are managed separately. EBC Financial Group (Australia) Pty Ltd provides general financial advise services in Australia.
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Business Address: The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB. Email Address : [email protected]. Telephone : +44 20 3376 9662
Disclaimer: EBC Financial Group explicitly does not participate in any cryptocurrency activities or offer Crypto Contracts for Difference (CFDs). Our financial services solely pertain to traditional instruments. Clients are advised that any references to crypto-related services using the EBC name are inaccurate and unauthorized. Any reference to past performance is not indicative of future performance. The information contained in this website is provided for reference only and does not constitute any investment advice.
Regional Restrictions: EBC does not offer any services to citizens and residents of certain jurisdictions including: Afghanistan, Belarus, Burma (Myanmar), Canada, Central African Republic, Congo, Cuba, Democratic Republic of the Congo, Eritrea, Haiti, Iran, Iraq, Lebanon, Libya, Malaysia, Mali, North Korea (Democratic People's Republic of Korea), Russia, Somalia, Sudan, South Sudan, Syria, Ukraine (including Crimea, Donetsk, and Luhansk Regions), the United States, Venezuela, and Yemen. For more information, please check out our FAQs.
Compliance Disclosure：The website can be accessed globally and is not specific to any entity. Your actual rights and obligations will be determined based on the entity and jurisdiction that you choose to be regulated.There may be local laws and regulations which prohibit or limit your rights to access, download, distribute, disseminate, share or otherwise use any or all of the documents and information published on this website.
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