AceTraderFx Feb 06: Intra-Day Market Moving News and Views -USD/JPY
Intra-Day Market Moving News and Views
06 Feb 2018 03:25GMT
USD/JPY - 108.72… Dlr gained no respite in hectic Asian trading as despite minor consolidation after o/n selloff from 110.26 to 108.99 in New York session due to active safe-haven yen buying as a result of plunge in U.S. equities n falling U.S. Treasury yields, renewed selling at 109.29 emerged n price tumbled to 108.55 as the Nikkie quickly shed 5% shortly after Tuesday’s open.
Looks like yen-buying will continue today as Monday’s intra-day 6.3% plunge in the Dow triggered active risk aversion where investors purchased the safe-haven yen and swiss franc n sent dlr/yen and dlr/chf sharply lower, U.S. Treasury yields also tumbled, benchmark 10-year yields fell from intra-day 4-year high of 2.885% to as low as 2.691% near the close.
The Dow fell almost 1,600 points at one time and later closed down 4.6% to 14346. Monday’s over 1,000 points selloff represent the biggest single-day point-drop ever.
Offers are tipped at 108.90/00 with stops above 109.30, a mixture of bids and stops is touted near 108.30-25, suggesting selling dlr in anticipation of a break of Jan’s 4-month bottom at 108.29 later in the day is recommended.
U.S. will release trade balance, Redbook sales and JOLTS jobs opening. St. Louis Fed President Bullard (non-voter) will speak of monetary policy at 13:50GMT.