USD/JPY has rebounded along with the broad dollar as EUR/JPY losses its risk barometer role. The dollar is moving in more monolithic fashion, making life somewhat easier for the market at the moment. Modest resistance is seen at the 98.50 level from a resistance line drawn off the 98.90 highs from last Friday. 98.05/10 is intraday support on dips. Rising US interest rates are a major supportive factor for USD/JPY as is a short-base among Japanese retail investors.
USD/JPY resistance line eyed at 98.50
Source: www.forexlive.com
Read more...
Pound at one-year high on trade-weighted index
Sterling has gotten a strong boost from signs the UK economy may have dragged itself from recession in the last months. But the pounds strength against its trading partners could not come at a worse time. The eurozone continues to struggle and UK exports to Europe could price themselves out of...
Fed’s Lockhart: Deficits headed wrong way; US finances face enormous challenges
The US fiscal picture is a sources of concern, Lockhart says, especially as Social Security and Medicare spending escalate in the next few years. His comments are music to the ears of the gold bugs and are helping undermine the greenback. Time for a victory lap…( know, all may bad trade ideas...
Weekly Technical FX Preview – GBP Under Pressure
Source: ForexYard EUR/USD Momentum has now turned lower as falling stochastics appear on the monthly, weekly, and daily charts. Initial support...
SEC, CFTC Charge 2 Calif. Men, Companies In $80 Million Ponzi Scheme
... Calif., and Son, the chief executive, and Chung, chief financial officer, with allegedly running a forex scam. The CFTC complaint also named Son's wife, ... See all stories on this...
Reserve Bank of Australia Keeps Rate on Hold at 4.25%
The Reserve Bank of Australia (RBA) kept the cash rate on hold at 4.25%. The RBA said: “With growth expected to...