Weak yen - EBC Daily Snapshot

2023-10-30

Summary:

The dollar steadied on Monday though the yen managed to stay on the stronger side of 150 per dollar, as traders looked ahead to several events this week.

EBC Forex Snapshot

30 Oct 2023

The dollar steadied on Monday though the yen managed to stay on the stronger side of 150 per dollar, as traders looked ahead to several events this week.

USDJPY

Expectations are rising that BOJ will change its YCC this week as the yen tests a 33-year low and government bond yields touch the highest levels in a decade.

The Fed and BOE are both expected to keep rates steady so barring any surprises, the focus will be more around the message the policymakers communicate.

The core PCE price index increased 0.3% in September, in line with the Dow Jones estimate and above the 0.1% level for August.

Citibank vs. HSBC Currency Pair Data Comparison
	Citi (as of 24 Oct)		HSBC (as of 30 Oct)
	support	resistance	support	resistance
EUR/USD	1.0448	1.0737	1.0474	1.0673
GBP/USD	1.2011	1.2387	1.2014	1.2283
USD/CHF	0.8745	0.9338	0.8908	0.9110
AUD/USD	0.6286	0.6604	0.6253	0.6430
USD/CAD	1.3381	1.3786	1.3664	1.3977
USD/JPY	146.00	150.16	148.24	150.86

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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