Good Morning! RBA kept rates unchanged and hinted that a rate cut is far away while the BoJ Deputy Governor Shinichi Uchida indicated that they would not raise rates in an unstable market which led the USDJPY to rise further.
RBA kept rates unchanged and hinted that a rate cut is far away while the BoJ Deputy Governor Shinichi Uchida indicated that they would not raise rates in an unstable market which led the USDJPY to rise further. Dollar Index, USDJPY, EURJPY and USDCNY saw some recovery yesterday and if sustained above current levels, can rise in the near term. Euro has been coming off as expected and while below 1.10, it can fall towards 1.09-1.0850 in the near term. Aussie is rising higher within 0.64-0.
tested 83.9575 yesterday but while below resistance at 84, it is likely to fall back towards 83.75/70 in the near term. above 91 can attempt to rise back towards 92-93 in the near term. Only a decisive break below it can drag the pair towards 90. The US Treasury yields have risen further. The expected corrective rise is happening. There is room to rise further before the yields fall back again and resume the downtrend. The German yields continue to remain lower and stable. The view remains bearish and there is room to fall more from here.
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