Tuesday: Yen falls vs. dollar as BOJ keeps its ultra-loose policy. Eyes on Ueda's press conference for negative rate exit signals.
EBC Forex Snapshot
19 Dec 2023
The yen fell against the dollar on Tuesday as the BOJ maintained its ultra-loose monetary policy earlier in the day. Focus turns to Kazuo Ueda’s press conference for signs on exit from negative rates.
While some Fed officials pushed back against market expectations of how soon they would cut rates, those comments have done little to sway market pricing.
The Australian dollar firmed near its five-month high. Minutes from the RBA's December policy meeting showed the central bank decided there were enough encouraging signs on inflation to pause for more data.
Citi (as of 11 Dec) | HSBC (as of 19 Dec) | |||
support | resistance | support | resistance | |
EUR/USD | 1.0756 | 1.1017 | 1.0757 | 1.1052 |
GBP/USD | 1.2326 | 1.2733 | 1.2495 | 1.2792 |
USD/CHF | 0.8667 | 0.8957 | 0.8592 | 0.8784 |
AUD/USD | 0.6522 | 0.6750 | 0.6574 | 0.6786 |
USD/CAD | 1.3417 | 1.3695 | 1.3286 | 1.3565 |
USD/JPY | 142.34 | 147.50 | 139.62 | 147.19 |
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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Following strong economic news, the dollar was steady on Friday. US GDP grew at a 2.8% annual rate last quarter, beating expectations.
2024-07-26The 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.
2024-07-25The US dollar rose on Wednesday as traders awaited inflation data. June home sales fell more than expected, and median prices hit a record high.
2024-07-24