Forex Analysis

JPY Mid-day Analysis

Surprisingly the Yen has remained out of favor despite a slight up-tick in economic uncertainty from the Euro zone.

A sharp range up extension in the Dollar overnight hints at the prospect of an upside breakout.

A pattern of lower highs in the Canadian and ongoing strength in the US Dollar shouldleave the bear camp with the edge today.

The downside track in the Pound has lost momentum and seeing the September Pound respect the recent consolidation low zone of

EURUSD: Major Factors supporting dollar firming

The USD strengthened against the G10 in Asia. The NZDUSD was the main developed currency mover,

Focus will continue to be on the international geopolitical situation, albeit tensionat least for now appears to be easing.

Aussie closed in NY Monday at $0.9262 after having remained confined to a relatively narrow $0.9259-86 range and

Rebound in stocks and yields (modestly) as geopolitical tension eases slightly. Volatilities are on the rise, especially on 30Y rates, be aware.

The pair opened at $1.3385 this morning, following a $1.3381 to $1.3396 range during the US hours overnight.

The pair closed in NY Monday at $1.6788 after rate had slowly recovered off its Friday lows of $1.6767 to $1.6796 through Monday.

JPY opened this morning at Y102.19 while euro-yen started at Y136.78. Early risk on trades saw the cross being lifted to Y136.87,