Markets may correct this week. 110 is a tough nut to crack but Currently, USD/JPY is trading at 111.43, up + 0.31%, having posted a daily high at 111.58 and low at 111.01. And the safe haven yen could find more buyers.
USD/JPY - 111.43.. Dlr extended Friday's rally in post-NFP after New York Fed Dudley's hawkish comments and climbed above Friday's 111.36 high to 111.58 after meeting renewed buying earlier at 111.02 in New Zealand.
As price has completely shrugged of Friday's U.S. missile strike on Syria and downbeat U.S. payrolls (caused by severe snow storms) together with rising U.S. Treasury yields (currently 2.3876%, up from Friday's close of 2.373%) and steady performance in the Nikkie (currently up 67 points at 18664), buying dlr on dips is favoured due to return of risk appetite on broad-based gain the the greenback.
Bids are noted at 112.20 and more at 111.00 with stops below there, offers are tipped at 111.70/75 with stops above 112.00.
After speaking on Bloomberg TV earlier, St. Louis Fed President James Bullard (non-voter in 2017 FOMC) will make a speech in Melbourne at 03:05GMT.
Later today, fed Chia Yellen will participate at a forum organised by University of Michigan at 20:10GMT.
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Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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