USD/JPY edged back down from 117.40 to 117.15/16 as the DJIA came off its highs and then the DJIA popped back up by 15 pts, taking USD/JPY back to current levels at 117.23/26. Dealers continue to keep their eye on CNBC and the stock market charts to fuel the direction in USD/JPY and JPY crosses.
Trading is seen growing defensive however ahead of the Philly Fed release. The market is expecting a 5.0 result. EUR/JPY trades at 115.16 after reaching highs of 115.32 this morning with offers expected at 155.50 now, near the overnight highs of 155.52. Bids remain on dips to 154.60/70.
No comments:
Post a Comment