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Fresh MTD Low For BBDXY

FOREX

The greenback has ticked marginally lower today, BBDXY printed a fresh November low. An offer in USD/JPY has spillover into moderate USD pressure. Bloomberg noted that month end rebalancing is providing support for the Yen. The cross asset space is relatively muted; US Tsy Yields are a touch higher and US Equity Futures are marginally lower.

  • USD/JPY is down ~0.3%, the pair briefly tested ¥148 before marginally paring losses. We sit at ¥148.20/25. Support is at ¥147.15 low from Nov 21. Resistance comes in at ¥149.94, the 20-Day EMA.
  • AUD/USD has breached Monday's highs and now sits at touch off its highest level since early August. We sit a touch above $0.6616 the high from Aug 10, the next target for bulls is $0.6656, 61.8% retracement of Jul-Oct bear leg.
  • Kiwi has observed narrow ranges for the most part, NZD/USD is see-sawing around $0.61 handle and is little changed from opening levels.
  • Elsewhere in G-10 there hasn't been any moves of note.
  • The docket is thin in Europe today.
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