Breaking news
Additional losses in USD/JPY quiet appear in store for the time being, comment UOB Community’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.
Breaking news Key Quotes
24-hour see: Two days ago, USD plummeted to 145.89 and then rebounded. Yesterday, we highlighted that “the stable rebound in oversold prerequisites suggests USD is now not any longer more doubtless to weaken further.” We expected USD to trade in a range between 146.00 and 147.30. On the opposite hand, USD traded in a narrower range than expected (146.44/147.24). The underlying tone seems to have improved somewhat. Today, USD may edge increased, but it absolutely is now not any longer more doubtless to reach 147.80. On the draw back, if USD breaks beneath 146.60 (minor improve is at 146.85), it would mean that the novel gentle upward rigidity has faded.
Subsequent 1-3 weeks: Yesterday (12 Sep, jam at 146.70), we highlighted that USD may pullback further. We added, “the possibility of a clear break beneath 145.50 is now not any longer high.” We proceed to maintain the same see. On the upside, if USD breaks above 147.80, it would indicate that it is no longer ready to pullback further.
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