The dollar hit a 10-month high- EBC Daily Snapshot
2023-09-26
Summary:
On Tuesday, the dollar hit a 10-month high as US bond yields surged to levels not seen since October 2007, and the Japanese yen continued its decline.
EBC Forex Snapshot
26 Sep 2023
The dollar rose to a new 10-month peak on Tuesday as US bond yields surged to their highest level since October 2007, while the Japanese yen resumed its slide.
The yen is sliding towards the 150 level that analysts and traders are on alert for potential intervention from officials, whose warnings have stepped up in recent weeks.
Elsewhere, the British pound slid to its lowest level since mid-March at $1.2168. It follows the BoE's decision to hold rates at 5.25% last week and a bout of downbeat economic data.
| Citi (as of 25 Sep) | HSBC (as of 26 Sep) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0617 | 1.0834 | 1.0519 | 1.0715 |
| GBP/USD | 1.2204 | 1.2458 | 1.2073 | 1.2468 |
| USD/CHF | 0.8745 | 0.9148 | 0.8954 | 0.9210 |
| AUD/USD | 0.6358 | 0.6522 | 0.6348 | 0.6504 |
| USD/CAD | 1.3302 | 1.3695 | 1.3323 | 1.3639 |
| USD/JPY | 144.54 | 148.85 | 146.84 | 149.84 |
The green numbers in the table indicate an increase in data, the red numbers indicate a decrease in data, and the black numbers indicate that the data remains unchanged.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
The yen was trading around 156 on Monday
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