The yen fell against the dollar on Tuesday

2023-12-19

Summary:

Tuesday: Yen falls vs. dollar as BOJ keeps its ultra-loose policy. Eyes on Ueda's press conference for negative rate exit signals.

EBC Forex Snapshot

19 Dec 2023

The yen fell against the dollar on Tuesday as the BOJ maintained its ultra-loose monetary policy earlier in the day. Focus turns to Kazuo Ueda’s press conference for signs on exit from negative rates.

While some Fed officials pushed back against market expectations of how soon they would cut rates, those comments have done little to sway market pricing.

AUDUSD

The Australian dollar firmed near its five-month high. Minutes from the RBA's December policy meeting showed the central bank decided there were enough encouraging signs on inflation to pause for more data.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 11 Dec)		HSBC (as of 19 Dec)
	support	resistance	support	resistance
EUR/USD	1.0756	1.1017	1.0757	1.1052
GBP/USD	1.2326	1.2733	1.2495	1.2792
USD/CHF	0.8667	0.8957	0.8592	0.8784
AUD/USD	0.6522	0.6750	0.6574	0.6786
USD/CAD	1.3417	1.3695	1.3286	1.3565
USD/JPY	142.34	147.50	139.62	147.19

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.

Previous： The dollar steadied on Wednesday

Next： The US dollar opened lower this week

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