Forex Analysis

JPY Mid-day Analysis

The December Yen appears to have found some temporary support at the recent consolidation lows of 91.03.

The “combined” spec and fund Net Long position in the Dollar hit a new record level at 64,850 contracts but

The crush of the Greenback continues even if the Canadian has forged a quasi-double bottom on the charts at 88.60.

Like many other currencies, the Pound is definitively oversold but

Since 1973, the big USD up cycles are associated with surprisingly strongequity performance,

In G10, EUR and JPY were both flat to Friday’s NY close around 1.252 and 109.6 respectively.

Bonds initially took a beating on solid US payrolls growth on Friday, but later recovered, as wage gains continued to be muted.

The Labour Day holiday in some states in Australia as well as holidays in many parts of the Asia-Pacific,

The pair closed in Ny Friday at $1.5975 after rate had been sold to a session low of $1.5954 following the boost to dollar demand

The pair started in Asia this morning at $1.2507 after a $1.2501 to $1.2620 range during the US hours.

A quiet morning for the JPY so far this Monday, following the dollar’s rise to a Y109.90 high on Friday in the US,

While New Zealand’s dairy industry is facing a problematic period on prices,