158.684
Today
-0.22%
5 Days
-0.50%
1 Month
-2.34%
6 Months
+2.41%
Year to Date
+1.26%
1 Year
+7.70%
Opening Price
158.988Previous Closing Price
159.032Nomura strategists see greater fiscal vulnerabilities in the United Kingdom (UK) than in the Euro area. Strong foreign inflows into Euro area bonds and comparatively better debt dynamics support its view that Euro (EUR) should outperform British Pound (GBP), US Dollar (USD) and Japanese Yen (JPY).
MUFG's Michael Wan notes that US longer-end yields have returned close to pre-buyback levels, with the 10-year at 4.7% and 30-year at 5.24%, weighing on risk assets.
The USD/JPY pair struggles to capitalize on the previous day's recovery from the 158.00 mark, or a one-and-a-half-week low, and meets with fresh supply on Friday.
United Overseas Bank’s (UOB) Quek Ser Leang notes USD/JPY at 159.00 rebounded sharply from 158.00, but now looks set to trade between 158.50 and 159.35 intraday.
Volkmar Baur at Commerzbank argues that July inflation and strong Purchasing Managers' Index (PMI) data in Japan suggest price dynamics would not block a Bank of Japan (BoJ) rate hike.
The Japanese Yen (JPY) trades in a limited range at around 159.00 against the US Dollar (USD) during the Asian trading session on Friday. The pair consolidates, while both the JPY and the USD are underperforming against their other currency peers.
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The downside prevails as long as 159.01 is resistance, with 158.13 and 157.94 as targets
above 159.01, look for 159.33 and 159.53.
The downside prevails as long as 159.01 is resistance, with 158.13 and 157.94 as targets
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