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USD: Latest Weakness for Equities Providing Further Greenback Support

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  • The latest weakness for equities continuing to provide some haven demand for the greenback, which sees the USD index edge back towards session highs. As such, USDJPY has made a new high at 144.47 in recent trade, extending the post BOJ intra-day recovery to 270 pips. We pointed out that we are now back above the 20-day EMA, and a close above this point will be a bullish development. Above here, markets would focus on a move back towards 145.57, the September 04 high.
  • The weakness in stocks keeps the likes of AUD and NZD down around 0.3%, however, most G10 major pairs aside from USDJPY are exhibiting much more contained ranges ahead of the weekend.  
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  • The latest weakness for equities continuing to provide some haven demand for the greenback, which sees the USD index edge back towards session highs. As such, USDJPY has made a new high at 144.47 in recent trade, extending the post BOJ intra-day recovery to 270 pips. We pointed out that we are now back above the 20-day EMA, and a close above this point will be a bullish development. Above here, markets would focus on a move back towards 145.57, the September 04 high.
  • The weakness in stocks keeps the likes of AUD and NZD down around 0.3%, however, most G10 major pairs aside from USDJPY are exhibiting much more contained ranges ahead of the weekend.