|Day's Range||108.09 - 108.277|
|52 Week Range||106.7760 - 114.5110|
Investing.com - The British pound was little changed against the U.S. dollar on Wednesday in Asia following news that Boris Johnson was chosen as the new U.K. leader.
The US dollar rallied significantly during the trading session on Tuesday, breaking above the ¥108 level, and perhaps more importantly breaking above the top of the shooting star for the trading session on Monday.
The British pound tried to rally during the trading session on Tuesday but continues to fail to hang onto gains at the ¥135 level, so at this point it looks very likely that we are going to go much lower. Ultimately, this is a market that looks very bearish.
Investing.com - The U.S. dollar surged towards five-week highs on Tuesday after U.S. President Donald Trump and Congres struck a deal to raisethe debt ceiling, easing fears of the government defaulting.
The British Pound is shaky this morning as anticipation mounts ahead of the announcement of the next Tory leader and Prime Minister.
Investing.com - The New Zealand Dollar fell on Tuesday in Asia after the Reserve Bank of New Zealand said it had done contingency planning for unconventional monetary stimulus.
During the day, US President Donald Trump came up with another set of tweets, criticizing the Fed. Cable slowed down as Alan Duncan, Junior Foreign Office Minister, resigned today, over Hard Brexit concerns.
The US dollar rallied into the ¥180 level early during the trading session on Monday, in what looks to be choppy and perhaps constructive pattern. It doesn’t take much imagination to notice that the ¥107 level has been massive support as of late.
The British pound initially tried to rally during the trading session on Monday but rolled over to show signs of exhaustion. By doing so, it looks as if the ¥135 level continues to offer major resistance.
Investing.com - The pound dipped on Monday as the U.K.’s conservative party begins voting on who will become the next leader of Parliament.
Investing.com - The U.S. dollar inched up on Monday in Asia as investors turned their attention to global central bank decisions scheduled for the next two weeks, starting with the European Central Bank which meets on Thursday followed by the Bank of Japan and then the Federal Reserve next week.
Investing.com - The dollar pushed higher against the yen on Monday as investors tempered expectations for an aggressive Federal Reserve interest rate cut later this month.
There are no Fed speakers scheduled this week so traders are going to have a hard time determining the chances of the more aggressive half-percentage point rate cut. Therefore, I’m not expecting to see much movement in the Dollar/Yen. If there is, we’re likely to see position-squaring and short-covering.
Australian and New Zealand Dollars both benefited from expectations of a rate cut by the Fed. The Aussie also picked up strength after the release of the Reserve Bank of Australia Monetary Policy Minutes and steady employment data. The Kiwi was supported by consumer inflation data that met expectations.
The May Japanese MoM All Industry Activity Index data release shocked the street analysts. The Kiwi pair kept lingering near its 3-month top vicinity on Friday.
The US dollar went back and forth against the Japanese yen during the trading week, dancing around the ¥108 level. By forming a neutral candle stick, this shows that the market really doesn’t know where we are going next.
The British pound initially fell during the course of the week, reaching down towards the 134 young level before bouncing significantly to form a bit of a hammer. That being the case, although it does look very bullish, the reality is that this market is oversold.
The British pound rallied a bit during the trading session on Friday, reaching towards the ¥135 level. This is an area that was previous support, and now it is asking questions as to whether or not it’s going to be resistance. I must say that the candlestick looks good, but longer-term, this is a pair that could struggle.
Investing.com - The U.S. dollar was higher on Friday, even as expectations rose that the Federal Reserve will cut interest rates by half a point at the end of the month.
Investing.com - The U.S. dollar inched up on Friday in Asia even after Federal Reserve officials bolstered expectations of an aggressive rate cut this month.
The US dollar pulled back a bit against the Japanese yen during the trading session on Thursday but found enough support at the 61.8% Fibonacci retracement level to bounce significantly.
The British pound initially fell against the Japanese yen during the trading session on Thursday but turned around to bounce rather significantly. That of course is a good sign, and it looks as if we are going to go testing a major figure just above.
The ingredients are in place for the USDJPY to cement its position as one of the liveliest FX pairs on the radars of investors heading into the second half of 2019.
Based on the early price action, the direction of the September U.S. Dollar Index the rest of the session is likely to be determined by trader reaction to the pivot at 96.740.
It was a mixed bag on the data front in Asia as Japan sees exports tumble. Corporate earnings also disappointed as trade war angst returns…