On Wednesday, the yen surged to its highest level this year against the dollar after Harris and Trump debated ahead of the November election.
EBC Forex Snapshot, 11 Sep 2024
The yen hit its highest since the start of the year against the dollar on Wednesday after US presidential contenders Harris and Trump traded barbs in the only scheduled debate before November's election.
The yen received an additional boost from BOJ board member Junko Nakagawa, who reiterated on Wednesday that interest rates will keep rising if the economy and inflation move in line with its forecasts.
Harris attacked high tariffs on foreign goods, a proposal she has likened to a sales tax on the middle class. Trump criticised Harris for persistent inflation during President Joe Biden's term.
Citi (as of 2 Sep) | HSBC (as of 11 Sep) | |||
support | resistance | support | resistance | |
EUR/USD | 1.0832 | 1.1202 | 1.0955 | 1.1142 |
GBP/USD | 1.2860 | 1.3266 | 1.2995 | 1.3215 |
USD/CHF | 0.8333 | 0.8827 | 0.8382 | 0.8549 |
AUD/USD | 0.6659 | 0.6871 | 0.6586 | 0.6770 |
USD/CAD | 1.3420 | 1.3792 | 1.3493 | 1.3673 |
USD/JPY | 141.70 | 149.39 | 140.40 | 145.83 |
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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