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Yen Marginally Pressured After BOJ Bond Buying

FOREX

The Yen has been marginally pressured late in the Asian session after the BOJ announced unscheduled bond buying for the second time this week.

  • USD/JPY has printed its highest level since 7 July, the pair is ~0.2% firmer, sitting a touch below ¥143.55 (high from Aug 1). Resistance comes in at ¥144.20 (high from Jul 7) and ¥145.07 (high from Jun 30 and bull trigger).
  • AUD/USD is little changed from opening levels, the pair has dealt in a narrow range in Asia with little follow through on moves. Support in AUD/USD comes in at $0.6527 (yesterday's low) and $0.6485, the low from Jun 1.
  • Kiwi has also observed a narrow range today with NZD/USD sitting in a $0.6065/90 range thus far. Wednesday's lows were briefly breached however losses were pared.
  • Elsewhere in G-10 EUR and GBP sit little changed from opening levels.
  • Cross asset wise; US Tsy Yields are a touch firmer as is BBDXY, follow through on moves remain limited thus far.
  • The highlight of today's docket is the monetary policy decision from the Bank of England. There is also a slew of US data due including initial jobless claims, productivity, factory orders and ISM Services.
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