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USD Index Presses To Fresh Session Highs, USDJPY Back Above 139.00

FOREX
  • The Dollar Index is pressing to fresh session highs in most recent trade, with the index still somewhat shy of yesterday’s peak around 100.18. While both EURUSD and Cable are garnering a bit of downside momentum, USDJPY’s impressive bounce off the lows remains most notable.
  • The JPY continues to face pressure following BOJ Ueda’s comments, stating on Tuesday that there was still some distance to sustainably and stably achieving the central bank's 2% inflation target, signalling his resolve to maintain ultra-loose monetary policy for the time being.
    • USDJPY now finds itself back above the 139.00 handle, narrowing the gap with Monday’s peak print at 139.41. Overall, initial firm resistance is at 140.18, the 50-day EMA of which a break would ease bearish technical pressure.
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