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Yen Marginally Firmer In Early Dealing

FOREX

The Yen has firmed on Friday, USD/JPY is down ~0.2% the pair sits below the ¥138 handle and has dealt through Thursday's low. Elsewhere in G-10 FX moves have been limited with narrow ranges.

  • USD/JPY prints at ¥137.80/90, the next resistance level for the pair is ¥137.36 50.0% retracement of Mar 24 - Jun 30 bull leg.
  • Kiwi is a touch lower, the pair sits below the $0.64 handle which presented as resistance yesterday however ranges remain narrow thus far. A reminder that NZ markets are closed today for the observance of a national holiday.
  • AUD/USD is at touch pressured, marginally paring some of its recent gains. The pair last prints at $0.6880/85, resistance comes in at $0.69 and support is at $0.6784 the low from Jul 13. There has been little reaction thus far to the appointment of Michele Bullock as the next RBA Governor.
  • Cross asset wise; US Tsy Yields are ~1bp higher across the curve and e-minis are down ~0.1%. BBDXY is little changed from opening levels.
  • There is a thin docket in Asia today, further out the latest UofMich Consumer Sentiment headlines.

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