It’s a quiet day ahead on the economic calendar. There are no material stats to consider, leaving geopolitics and COVID-19 and vaccine news in focus
The US dollar has pulled back significantly during the course of the week to test the ¥109 level for support.
The US dollar went back and forth during the course of the trading session on Friday as we continue to look for some type of stability.
The British pound has been back and forth during the trading session on Friday as we continue to see a lot of choppy behavior around the ¥150 level.
Economic data from China failed to impress this morning. Later today, finalized inflation figures from the Eurozone and consumer sentiment figures from the U.S will be in focus.
The US dollar has pulled back a bit during the trading session on Thursday, as we are below the ¥109 level.
The British pound has been going sideways around the ¥150 level for several sessions in a row, and of course Thursday was so different.
Look for a bearish tone as long as the USD/JPY remains under 109.385. It’s important to trade the reaction in yields and not the headline numbers.
The companies say the move will eliminate bottlenecks in the moving and settling of Japanese yen associated with traditional financial rails.
Eurozone inflation figures and a busy U.S economic calendar put the EUR and the U.S Dollar in focus later today.
The US dollar initially fell against the Japanese yen during trading on Wednesday but continues to see buyers just below and it does suggest that we are ready for a bounce.
The British pound had initially tried to rally during the trading session on Wednesday, crossing the ¥150 level yet again.