The yen is still around 150 - EBC Daily Snapshot

2023-10-27

Summary:

The dollar rose on Friday and is set for a third monthly gain as the economy growth accelerated and the ECB left interest rates unchanged.

EBC Forex Snapshot

27 Oct 2023

The dollar rose on Friday and is set for a third monthly gain as the economy growth accelerated and the ECB left interest rates unchanged.

GDP rose at a seasonally adjusted 4.9% annualised pace in the third quarter, the fastest since the fourth quarter of 2021. Economists surveyed by Dow Jones had been looking for an increase of 4.7%.

USDJPY

The yen continued to languish around 150 per dollar, a level some as a potential trigger for intervention by Japanese authorities. Analyst said he BOJ could change its YCC next week.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 16 Oct)		HSBC (as of 26 Oct)
	support	resistance	support	resistance
EUR/USD	1.0443	1.0834	1.0465	1.0677
GBP/USD	1.2011	1.2387	1.2017	1.2268
USD/CHF	0.8745	0.9338	0.8844	0.9133
AUD/USD	0.6286	0.6522	0.6239	0.6421
USD/CAD	1.3381	1.3785	1.3637	1.3884
USD/JPY	146	150.16	148.8	150.96

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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