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28 Jan 2015
USD/JPY bid caught up on SGD sell off
FXStreet (Guatemala) - USD/JPY is trading at 118.03 with a high of 118.06 and a low of 117.71.
USD/JPY is up to test the 118 handle with a bout of demand as the USD/SGD is soaring after Singaporean authorities announced a cut to the slope of SGD policy band.
USD/JPY has extended gains from the 117.30/20 level, a support that had been defined at the start of last week, while on the day overnight, the greenback had been under pressure against a backdrop of poor data yet again, ahead of the FOMC this week. Attention however in the open of Tokyo has been around SGD. The pair has skyrocketed from 1.3390 to 1.35560 now, a new 4-1/2 year high as the market re-assess positions. For the Yen, we are in familiar ranges and closes through 118.80 would be required to favour the upside further.
USD/JPY is up to test the 118 handle with a bout of demand as the USD/SGD is soaring after Singaporean authorities announced a cut to the slope of SGD policy band.
USD/JPY has extended gains from the 117.30/20 level, a support that had been defined at the start of last week, while on the day overnight, the greenback had been under pressure against a backdrop of poor data yet again, ahead of the FOMC this week. Attention however in the open of Tokyo has been around SGD. The pair has skyrocketed from 1.3390 to 1.35560 now, a new 4-1/2 year high as the market re-assess positions. For the Yen, we are in familiar ranges and closes through 118.80 would be required to favour the upside further.