The dollar hit a 10-month high - EBC Daily Snapshot

2023-09-27

Summary:

The dollar scaled a 10-month high on Wednesday, pushing the euro and sterling to 6-month lows, while Treasury yields remained near 16-year peaks.

EBC Forex Snapshot

27 Sep 2023

The dollar scaled a 10-month high on Wednesday, pushing the euro and sterling to 6-month lows, while Treasury yields remained near 16-year peaks.

The yen trades around an 11-month low reached on Tuesday. With 150 in sight, Japanese authorities are ramping up their rhetoric against speculative short-sellers.

USDJPY

The Bank of Japan's meeting minutes showed that policymakers agreed on the need to maintain ultra-loose monetary settings but were divided on how soon long-awaited policy normalisation should take place.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 25 Sep)		HSBC (as of 27 Sep)
	support	resistance	support	resistance
EUR/USD	1.0617	1.0834	1.0493	1.0707
GBP/USD	1.2204	1.2458	1.2015	1.2433
USD/CHF	0.8745	0.9148	0.8976	0.9250
AUD/USD	0.6358	0.6522	0.6334	0.6485
USD/CAD	1.3302	1.3695	1.3364	1.3680
USD/JPY	144.54	148.85	146.90	150.20

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.

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