April 29, 2024 06:34 GMT
Main overnight story is the Yen
USD
- The main Global story in FX is of course on the Yen, after USDJPY got squeezed all the way up to 158.44 late Friday, USD spiked all the way to 160.17 (prices are according to Bloomberg) overnight on very thin liquidity, with Japan out on Holiday.
- Top Currency official Kanda provided a "no comment" when asked if they had intervened.
- USDJPY is already trading in a whopping 511 pips range, and now back towards 157.00, closer to where it was trading during the European afternoon session on Friday.
- Other best early performers in G10 are the Kiwi and the Aussie.
- Resistance in NZDUSD will be seen at 0.5993.
- For AUDUSD, this comes at 0.6617 50.0% retracement of the Dec 28 - Apr 19 bear leg.
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