Previous close | 154.5980 |
Open | 154.5960 |
Bid | 155.2100 |
Day's range | 154.5530 - 155.2410 |
52-week range | 133.7520 - 159.9610 |
Ask | 155.2140 |
The US dollar continues to see upward pressure, as the markets continue to focus on the interest rate differential, as you get paid to hold onto this pair over the longer term.
The USD continues to show signs of volatility against the yen, but more importantly – strength. Although we have seen some central bank actions, at the same time – interest rate differential continues to be important.
The USD has fallen hard during the week and is now testing a major support region. This is a move mainly driven by the Bank of Japan intervention that has happened. However, there is a major list of reasons to think this trend will continues eventually.