Article by ForexTime
USD/JPY continued higher, up from 109.02 through the NY high of 109.15 to 109.36 before falling back. Higher US yields after strong new home sales data and risk-on sentiment helped.The bias remains up. EUR/JPY rose from 139.30 to 139.70 in tandem with USD/JPY but volume was low and the cross looks to be headed lower again after peaking at 141.21 on Friday.
EUR/USD opened in Asia at 1.2780 after falling on a combination of worse-than-expected German Ifo and better-than-expected US new home sales data and a widening of the US-Eurozone interest rate differential. Very quiet in Asia, EUR/USD traded 1.2774-83 before moving down a leg to 1.2764. Dovish talk from ECB Pres Draghi in a Lithuanian publication added some weight. With short EUR positions pared back earlier in the week, the case for renewed weakness has grown.
GBP/USD was heavy and traded between 1.6315-41 in Asia. BoE Governor Carney’s speech today will be in focus. EUR/GBP did little, holding between 0.7820-29. The bias remains down.
USD/CHF remained bid between 0.9452-65 on broad USD strength. EUR/CHF treaded water between 1.2080-89.
AUD/USD opened in Asia at 0.8885 traded soggy between 0.8850-85 initially before falling off another leg to 0.8818 later as NZD/USD crashed.
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