Exchange rate

Yesterday, we expected the USD/CNH trading range to be 7.1660/7.2020. USD/CNH then traded between 7.1860 and 7.2056. Upward momentum has improved slightly, and USD/CNH still has room to move higher…

EUR/USD appears to have weathered the worst of the US bond sell-off with relative ease (barring a new volatility peak), suggesting that the market remains reluctant to abandon a cyclical…

EUR/GBP traded within a tight range around 0.8604-24. Germany’s Harmonized Index of Consumer Prices (HICP) came in at 6.5%, in line with expectations. Policymakers at the Bank of England (BOE)…

EUR/NOK fell below a multi-month trend line last month, following a prolonged pullback. EUR/NOK retested the temporary support of the 200-day moving average around 11.09. The daily MACD is in…

We were wrong to call USD/JPY weaker yesterday. Contrary to the decline, the exchange rate rebounded to a high of 142.59. The upward momentum has improved slightly, and the exchange…

Sterling oscillates around 1.2750 as investors await fresh triggers for further action. The outlook for the UK economy is bleak as the Bank of England (BOE) prepares to tighten policy…

AUD/USD attracts some selling around 0.6530, down 0.65% on the day Initial support at 0.6525; 0.6560 acts as short-term resistance AUD/USD remains under pressure and is trading around 0.6530 ahead…

Yesterday we highlighted that “NZD moves appear to be part of a consolidation phase, with trading expected between 0.6075/0.6130.” While our consolidation view is correct, the trading range is tighter…

GBP traded between 1.2714-1.2789 yesterday, narrower than our expected range of 1.2700/1.2800. The underlying tone has improved, with GBP likely to edge higher. Any gains are unlikely to threaten the…

Yesterday we thought “the euro could test 1.1045 before the risk of a more sustained pullback increases.” Contrary to a test of 1.1045, the euro fluctuated slightly between 1.0864-1.1017 and…