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EUR/JPY moves little after posting modest gains in the previous day, trading around 185.80 during the Asian hours on Friday. The EUR/JPY cross is holding a constructive bullish bias as it remains above both the nine-day and 50-day Exponential Moving Averages (EMAs). The alignment of the shorter nine-day EMA above the 50-day EMA hints at a still-supportive trend backdrop.The 14-day Relative Strength Index (RSI) near 56 stays in positive territory without entering overbought conditions, suggesting upside momentum is intact but not overstretched.The technical analysis of the daily chart suggests the currency cross remains near the upper boundary of the descending…
The Japanese yen is testing the 160 barrier on Friday, prompting pushback from Japanese officials, while the U.S. dollar is on track for a weekly gain as Gulf tensions fuel safe-haven flows. The yen weakened to the critical 160-per-dollar mark briefly in early trades, hitting the level for the third straight session despite verbal warnings from authorities. The 160 level is widely seen in markets as a line in the sand for potential official intervention. Japan is ready to respond appropriately at any time on foreign exchange and reserves the right to take “decisive action” against excessive volatility, Finance Minister…
Mumbai: The Indian currency and the benchmark bond yield traded in a narrow range Thursday, in anticipation of Friday’s decision on policy rates and likely measures to support the currency.The rupee closed at 95.78, versus its previous close of 95.70. The 10- year bond yielded 7%, nearly unchanged from its previous close of 7.01%.The currency traded in a narrow range from 95.59 and 95.80 on the day, and intervention by the Reserve Bank of India (RBI) helped contain the depreciation past 95.80 levels, traders said.Intervention by the RBI has been stronger after the rupee hit its record low of 96.96…
US President Donald Trump said that he would be “honored” to meet Iranian Supreme Leader Ayatollah Mojtaba Khamenei if a deal is reached to end the U.S.-Iran war, CNBC reported on Thursday.“If we make a deal, it’s possible that I would meet,” said Trump. “I’d be okay with that,” he added.Meanwhile, Israeli defence minister Israel Katz said on Thursday that Israel will continue operations in Lebanon despite a ceasefire, and Lebanese residents forced to flee will not be able to return.Israeli forces and Hezbollah fighters launched strikes just hours after Israel and Lebanon agreed to implement a ceasefire, hinging on…
EUR/USD edges higher on Thursday as signs of easing tensions in the Middle East reduce safe-haven demand for the US Dollar (USD). At the time of writing, the pair trades around 1.1625, up 0.25% on the day.Market sentiment improved after the United States announced a ceasefire agreement between Israel and Lebanon, one of Iran’s key demands to end the war. The development raised hopes that US-Iran peace talks could pick up pace after appearing to stall in recent days.The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is down 0.20% on the…
ING’s Chris Turner notes USD/BRL may move toward 5.14 as the stronger US Dollar and local political and trade risks weigh on the Brazilian Real (BRL). He argues BRL is catching up with domestic rate markets and expects dips to find support given Brazil’s high yields and energy exporter status.Brazilian Real catches up with rates”The stronger US rate/dollar environment is starting to prove a headwind for some of the more popular emerging market plays, including the Brazilian real carry trade.””Beyond the strong dollar environment, the local story sees President Lula’s approval ratings continue to widen over Flavio Bolsonaro and Brazil…
The Indian rupee dipped on Thursday, extending a two-session decline, ahead of Friday’s all-important Reserve Bank of India monetary policy review, where traders are widely anticipating steps to support the currency.The rupee closed at 95.7850 per US dollar, from 95.7050 on Wednesday. The currency meandered in a narrow range through the session, pressured by weaker Asian peers and importer hedging after a central bank intervention-led relief rally.The rupee has recovered ground after the Reserve Bank of India’s intervention in spot and forward markets helped it rebound from a record low of 96.96 hit around mid-May.The RBI’s activity has provided breathing…
The Indian rupee dipped on Thursday, extending a two-session decline, ahead of Friday’s all-important Reserve Bank of India monetary policy review, where traders are widely anticipating steps to support the currency. The rupee closed at 95.7850 per U.S. dollar, from 95.7050 on Wednesday. The currency meandered in a narrow range through the session, pressured by weaker Asian peers and importer hedging after a central bank intervention-led relief rally. The rupee has recovered ground after the Reserve Bank of India’s intervention in spot and forward markets helped it rebound from a record low of 96.96 hit around mid-May. The RBI’s activity…
The dollar traded near a two-month high on Thursday as renewed Gulf hostilities sapped risk appetite, while traders were alert to the possibility of intervention as the Japanese yen hovered near the key 160 level.Iranian attacks on Kuwait damaged its airport and injured dozens on Wednesday, while the U.S. military carried out strikes near the Strait of Hormuz, complicating prospects for a diplomatic end to the war.Although Israel and Lebanon agreed to a ceasefire, a broader peace deal remained elusive, keeping oil prices elevated and supporting demand for the safe-haven dollar.The euro rose 0.1% to $1.161 . A Reuters poll…
NZD/USD extends its losses for the fourth successive day, trading around 0.5860 during the European hours on Thursday. The technical analysis of the daily chart shows the spot price moving sideways within a rectangle pattern, indicating a period of market consolidation and indecision.The NZD/USD pair is keeping a mild bearish bias as it holds beneath the short-term and medium-term Exponential Moving Averages (EMAs), clustering just above the spot as immediate overhead supply, suggesting rallies are likely to meet selling interest while price trades below this band.Momentum is soft, with the 14-day Relative Strength Index (14) hovering just under the 50…