2024-06-18
EBC Forex Snapshot, 18 Jun 2024
The dollar edged higher on Tuesday after Philadelphia Fed President Patrick Harker revealed that he is in the single-cut camp, but left the door open to changing his view depending on incoming data.
The yen still languished around the low of 158 per dollar. Economists remain split over the timing of the Bank of Japan's next interest rate hike, according to a new Reuters poll.
Some 30% of the respondent expected a rate hike in June. Another 41% forecast the next hike would come in October. Slightly more than 20% went with September, while the remainder did not expect further tightening until 2025.
| Citi (as of 11 Jun) | HSBC (as of 17 Jun) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0700 | 1.0981 | 1.0606 | 1.0855 |
| GBP/USD | 1.2300 | 1.2827 | 1.2604 | 1.2810 |
| USD/CHF | 0.8885 | 0.9158 | 0.8806 | 0.9070 |
| AUD/USD | 0.6562 | 0.6729 | 0.6557 | 0.6687 |
| USD/CAD | 1.3577 | 1.3846 | 1.3626 | 1.3817 |
| USD/JPY | 151.86 | 157.71 | 155.18 | 158.90 |
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.
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