Forex Analysis

JPY Mid-day Analysis

The sell-off in the Yen has probably become a little overextended with the high to low slide of 277 points.

The Dollar spent most of the overnight trade below 86.00 but it was still within close-proximity to the recent highs.

At times this week it appeared that patently negative global economic views were being reversed,

The bull camp has to be partially cheered by the Pounds ability to carve out some upside action in the wake of

Hungary once again grabbed attention with unorthodox policies – it plans to introduce world’s first internet tax

The USD and JPY strengthened initially but have since lost ground.

A quiet day on the data front. German consumer confidence released at 08:00 isexpected to

Bond yields jumped and curves steepened on the back of an upward surprise in Euro-area PMIs and rallying US equities,

The pairclosed in NY at $0.8760 after having again largely traded sideways, this time within a $0.8749-0.8806 range on the day.

The pair started in Asia at $1.2646 after it had traded a high of $1.2676 in overnight dealings,

The pair closed in NY Thursday at $1.6031 after rate had managed to recover off UK retail sales react lows of $1.5995 to

The pair opened at Y108.26 this morning and gained in early dealings toward the overnight high of Y108.35.