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JPY Bottom Of The Pile

FOREX

The dollar index is slightly lower, pulling back from yesterday's highs, which has seen commodity currencies rebound. DXY last down 0.036 at 93.258.

  • AUD is up around 11 pips at 0.7608, iron ore has gained, though oil is lower which is tempering gains.
  • NZD/USD up around 9 pips at 0.6989, March business activity outlook index printed 16.6 in the final March reading, while business confidence was at -4.1. Tailwinds for NZD come in the form of an easing of dividend restrictions imposed on banks during the pandemic.
  • JPY is softer, USD/JPY gaining ground despite a softer greenback, the pair is now firmly entrenched over 110 after struggling at the level. Data earlier in the session showed industrial output falling more than estimated. The headline Y/Y figures fell 2.6% in February against estimates of a 1.8% decline. METI said it sees March output falling 1.9% M/M.
  • CNH is weaker, but has moved within a narrow range, USD/CNH last up 12 pips at 6.5741. The pair challenged 6.5860 twice yesterday but failed both times, contacts note CNH dip buying near the level. 1-month implied volatility has risen for a second day to 4.8325%
Energy BulletsCommodities
Energy BulletsCommodities

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