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FOREX: Greenback Pops Amid Bostic Comments, EURUSD Approaches 1.09

FOREX
BulletMarketsForeign Exchange Bullets
  • The greenback has gone bid on the latest headlines from Bostic with USDJPY popping around 40 pips from 148.50 to 148.90 in recent trade.
  • The downside pressure on equities helps EURUSD through session lows in tandem, with the pair narrowing in on the 1.0900 handle at typing. Below here, 1.0881 marks the next support point, the 76.4% retracement of the Aug 1 - Sep 25 bull leg.
  • It is worth pointing out that although the reaction has been provoked by the ‘open to skipping’ headline, Bostic provides the usual data dependent caveat and "also said he thought a case could be made to cut interest rates by a quarter point at either or both of the Fed's meetings this year, in November and December."
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  • The greenback has gone bid on the latest headlines from Bostic with USDJPY popping around 40 pips from 148.50 to 148.90 in recent trade.
  • The downside pressure on equities helps EURUSD through session lows in tandem, with the pair narrowing in on the 1.0900 handle at typing. Below here, 1.0881 marks the next support point, the 76.4% retracement of the Aug 1 - Sep 25 bull leg.
  • It is worth pointing out that although the reaction has been provoked by the ‘open to skipping’ headline, Bostic provides the usual data dependent caveat and "also said he thought a case could be made to cut interest rates by a quarter point at either or both of the Fed's meetings this year, in November and December."