The yen fell against the dollar on Tuesday


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.

Citibank vs. HSBC Currency Pair Data Comparison

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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A wave of risk aversion swept over markets on Friday

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Currency pressures persist on Thursday

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On Thursday, the dollar weakened while pressures on other currencies persisted. Strong data dampened expectations of Fed rate cuts in June.

Pound rises from fall to rise

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