Summary:
Markets experienced a wave of risk aversion on Friday as reports emerged of Israel attacking Iran, prompting investors to seek safe-haven currencies.
EBC Forex Snapshot, 19 Apr 2024
A wave of risk aversion swept over markets on Friday and sent investors rushing to safe-haven currencies following reports that Israel attacked Iran in an escalation of conflict in the Middle East.
The yen was still below 154 per dollar. Japan’s core inflation slowed in March due to mild rises in food prices while staying comfortably above the central bank’s 2% target, government data showed.
BOJ Governor Kazuo Ueda said the central bank may raise interest rates again if the yen's declines significantly push up inflation, highlighting the impact currency moves may have on the timing of the next policy shift.
| Citi (as of 15 Apr) | HSBC (as of 19 Apr) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0517 | 1.0865 | 1.0533 | 1.0819 |
| GBP/USD | 1.2337 | 1.2709 | 1.2322 | 1.2628 |
| USD/CHF | 0.8999 | 0.9148 | 0.9028 | 0.9183 |
| AUD/USD | 0.6443 | 0.6668 | 0.6324 | 0.6580 |
| USD/CAD | 1.3478 | 1.3855 | 1.3545 | 1.3916 |
| USD/JPY | 150.88 | 153.39 | 152.03 | 156.01 |
The green numbers in the table indicate that the data has increased compared with the previous time; the red numbers indicate that the data has decreased compared with the previous time; and the black numbers indicate that the data has remained unchanged.
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