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USD: NZD and AUD lead in G10, BoJ delivers expected hike

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  • No surprises that the main story in FX going into the European session is the Volatile Yen, after the BoJ delivered its widely expected 25bps hike.
  • US Yields are also tilted to the downside with EGB's, supporting further early downside in the USDJPY, but the comment from Ueada regarding no preconception on the pace of further rate hikes had lifted the USDJPY some 50-60 pips off its printed low as Europe comes in.
  • Interestingly the Yen isn't the best performer against the Dollar in G10s, instead the Kiwi and the Aussie are leading after Trump expressed a reluctance in imposing Tariffs on China during a Fox interview last night.
  • Next upside area in focus for the NZDUSD comes at 0.5740, this is the 23.6% retracement of the Oct/Jan Fall.
  • Looking back at the Yen, the trend condition remains Bullish (see MNI Chart).
USDJPY 24 01 25
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  • No surprises that the main story in FX going into the European session is the Volatile Yen, after the BoJ delivered its widely expected 25bps hike.
  • US Yields are also tilted to the downside with EGB's, supporting further early downside in the USDJPY, but the comment from Ueada regarding no preconception on the pace of further rate hikes had lifted the USDJPY some 50-60 pips off its printed low as Europe comes in.
  • Interestingly the Yen isn't the best performer against the Dollar in G10s, instead the Kiwi and the Aussie are leading after Trump expressed a reluctance in imposing Tariffs on China during a Fox interview last night.
  • Next upside area in focus for the NZDUSD comes at 0.5740, this is the 23.6% retracement of the Oct/Jan Fall.
  • Looking back at the Yen, the trend condition remains Bullish (see MNI Chart).
USDJPY 24 01 25