USD/JPY hurdles around 155 and mid-158 areas
Snippet comments from Westpac on USD/JPY:USD/JPY looks to have found a floor in the 152/53 zone for the time being. Even with a cautious Powell and less evident US exceptionalism the dynamics of underlying US resiliency remain and so USD/JPY is still expected to regain an upwards trend, but it may face interim hurdles now in the 155.00 area and the mid 158’s.And on the AUD:With AUD stalling into 0.6650 range highs 3 days in a row and the RBA not quite living up to more hawkish expectations the immediate case for AUD upside right here is not compelling. AUD setbacks likely extend no further than 0.6550 for now. AUD/USD can still bank on a more supportive yield spread floor, with the RBA nevertheless adopting a more hawkish and determined posture, while Powell appears to have an asymmetric easing bias, declining to entertain rate hikes last week and repeatedly emphasising the need for more time, meaningfully narrowing the distribution of risks for US rates. This article was written by Eamonn Sheridan at www.forexlive.com.
Snippet comments from Westpac on USD/JPY:
- USD/JPY looks to have found a floor in the 152/53 zone for the time being.
- Even with a cautious Powell and less evident US exceptionalism the dynamics of underlying US resiliency remain and so USD/JPY is still expected to regain an upwards trend, but it may face interim hurdles now in the 155.00 area and the mid 158’s.
And on the AUD:
- With AUD stalling into 0.6650 range highs 3 days in a row and the RBA not quite living up to more hawkish expectations the immediate case for AUD upside right here is not compelling.
- AUD setbacks likely extend no further than 0.6550 for now.
- AUD/USD can still bank on a more supportive yield spread floor, with the RBA nevertheless adopting a more hawkish and determined posture, while Powell appears to have an asymmetric easing bias, declining to entertain rate hikes last week and repeatedly emphasising the need for more time, meaningfully narrowing the distribution of risks for US rates.
