Published on: 2024-04-22
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.
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.
| 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.
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