Exchange rate

24-hour view: We expect GBP to trade sideways in the 1.2795/1.2865 range yesterday. We were wrong and GBP fell to a low of 1.2742 before recovering quickly. Downside pressure has…

AUD/JPY fell further to around 93.80 on Wednesday Bank of Japan policymakers say Japan’s current situation is critical to maintaining accommodative policy. AUD/JPY within a downtrend channel on the 4-hour…

USD/CHF paused its four-day winning streak as the market hesitated over the direction of the greenback. Fitch downgraded U.S. credit rating, but market participants dismissed concerns. CHF bulls are hopeful…

24-hour view: Yesterday we pointed out that “the underlying tone is slightly weaker, and the euro will trade in the lower range of 1.0970/1.1030.” However, the euro fell to 1.0950…

Despite the new (less traditional) policy language surrounding the yield curve control policy (YCC), the BOJ has in practice raised the cap on 10-year JGBs from 50 basis points to…

RBA attempts soft landing The RBA again opted to pause, keeping its cash rate target at 4.1%. The RBA is now refocusing its efforts to achieve a “soft landing” given…

24-hour view: Yesterday we thought that USD/CNH was “under moderate downward pressure and could edge lower. Any decline is unlikely to threaten last week’s low of 7.1170.” Our view did…

24-hour view: The strong rise in the dollar pushed USD/JPY to a high of 142.67, which is surprising. While severely overbought, gains could extend to 143.20 before the risk of…

24-hour view: Yesterday we expected the New Zealand dollar to consolidate in the range of 0.6130/0.6190. Contrary to consolidation, NZD surged to 0.6226. While the sharp rise seems overdone, NZD…

USD/CHF stays inside trend-extending pattern during 4-day rally, lacks bullish bias RSI, MACD conditions suggest Swiss franc bulls return 200SMA, several days down resistance line increases upside hurdles Bears may…