[B]Intra-Day Market Moving New and Views
11 Jul 2014[/B] [I]01:57GMT[/I]
[B]USD/JPY[/B] - ... Japan FinMin Aso said "Japan long-term interest rates at 0.54% are abnormal".
The greenback remained under pressure on Thursday and intra-day decline gathered momentum after penetrating 101.45 support to a fresh 7-week low at 101.07 due to active cross buying in jpy on renewed risk aversion before staging a recovery to 101.39 in Asian morning.
Offers are now tipped at 101.45-50 n more at 101.60 with stops only seen above 101.70.
On the downside, some bids are located at 101.15-10 with mixture of bids n stops seen at 101.00.
Wraping up from last night, Fed’s George said 'concerned about effects of higher food prices on lower-income households; formulas that guide interest rate changes point to liftoff from 0 as early as this year; anxious to work twd process of policy normalization.'
The single currency Euro had finally gained some respite in NY session after intra-day sharp retreat from 1.3650 to 1.3589 in NY morning on risk aversion due to growing concerns over Portuguese bank BES.
Offers were now seen at 1.3615/20 n more above at 1.3630/40 with stops building up above there whilst initial bids were noted at 1.3580/90, suggesting selling on any recovery was still the favored strategy.
[B]Data to be released on Friday:[/B]
Australia new home loans, Germany CPI, HICP, WPI, France current account, Canada employment change, unemployment rate and U.S. Fed budget.