The USDJPY opened up near its 200-hour moving average at 141.70 and did break below that moving average level and the 38.2% retracement of the move up from the July 28 low at 141.656. However, momentum cannot be sustained on the price of bounce back higher. The pair is currently trading at 142.02. There is
Share: GBP/USD remains on the defensive for the third successive day, albeit lacks follow-through. The emergence of some USD dip-buying turns out to be a key factor weighing on the major. The downside seems limited as traders seem reluctant ahead of the BoE meeting on Thursday. The GBP/USD pair struggles to capitalize on
The Nasdaq is up 1.4% as Treasury yields retreat and the market sorts through the post-BOJ wreckage. The strength in stocks demonstrates that there is a mountain of cash on the sidelines looking for a dip to buy. That kind of stock market performance would usually come with at least some strength from commodity currencies
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