Yen near post-1990 lows

2024-04-11
Summary:

Thursday saw the dollar stay strong as inflation data dashed hopes for a Q2 rate cut. The yen neared its lowest since the '90s.

EBC Forex Snapshot, 11 Apr 2024


The dollar was firm on Thursday after hotter-than-expected inflation data squashed lingering expectations of a rate cut in Q2. The Japanese yen traded within a whisker of the lowest since mid-1990.


BOJ Governor Kazuo Ueda said the central bank would not directly respond to currency moves in setting monetary policy, brushing aside speculation that the yen's sharp falls could force it to act.

USDJPY

Some yen traders are seeing 152 as a line in the sand for Japan’s finance ministry even though officials have repeatedly said they are not defending specific levels.

Citibank vs. HSBC Currency Pair Data Comparison

Citi (as of 25 Mar) HSBC (as of 11 Apr)

support resistance support resistance
EUR/USD 1.0695 1.1017 1.0682 1.0844
GBP/USD 1.2503 1.2896 1.2462 1.2654
USD/CHF 0.8741 0.9112 0.9013 0.9197
AUD/USD 0.6443 0.6691 0.6445 0.6610
USD/CAD 1.3359 1.3607 1.3533 1.3760
USD/JPY 146.66 151.91 151.57 154.01

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

The Canadian dollar rebounded from an eight-week low

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

2024-07-26
The Yen Hits 2.5 Months High

The Yen Hits 2.5 Months High

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.

2024-07-25
Australian Dollar Falls 7% in Two Weeks

Australian Dollar Falls 7% in Two Weeks

The 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

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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
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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.
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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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