|Day's Range||108.14 - 108.33|
|52 Week Range||106.7760 - 114.5110|
The British pound broke down during the trading session on Tuesday, slicing through the vital ¥135 level. This is an area that of course has a certain amount of psychological importance to it and has offered support in the past. At this point, it looks like we could wipe out the entire move.
The rising threat of a no-deal Brexit has made the British Pound the worst performing G10 currency today with the GBPUSD tumbling to levels not seen in 27 months – below 1.2420.
Investing.com - The U.S. dollar was higher on Tuesday after stronger-than-expected retail sales showed the economy was healthy, even as the Federal Reserve is expected to cut interest rates.
The British pound gapped lower to kick off the week, turned around to rally through that gap, and then fell again. Ultimately, this is a market that shows extreme weakness, as we are pressing major support just below.
The Dollar is entering the trading week looking quite shaky and vulnerable as expectations mount over the Federal Reserve cutting interest rates this month.
Investing.com - The U.S. dollar rose on Monday, as manufacturing activity in New York posted its biggest increase in more than two years.
USD/JPY traders should also pay attention to the Fed speakers this week. In June, Fed policymakers voted 9 to 1 to leave rates unchanged. St. Louis Fed President James Bullard voted for a rate cut. He has already said since then that 50-basis point rate cut is too excessive.
Investing.com - The U.S. dollar was near flat on Monday in Asia as rising inflation failed to deter expectations that the Federal Reserve will cut interest rate this month.
Based on Friday’s close at 107.900, the direction of the USD/JPY on Monday is likely to be determined by trader reaction to the short-term 50% level at 107.883.
The June US YoY Producer Price Index (PPI) that excludes Food and Energy reported a 0.1% rise over estimates. The robust 108.65 resistance acted as the robust barrier, disallowing any further arouses in the Ninja.
The US dollar went back and forth against the Japanese yen for the week, showing signs of extraordinarily volatile attitude. The ¥180 level has offered support during the week, proceeded buying a hammer on the weekly candle stick chart.
The British pound went back and forth during the course of the week, showing a bit of a neutral candle. At this point, the ¥135 level underneath is support, as it is psychologically important. However, all things being equal it’s obvious that the market is trying to find a bottom.
Investing.com - The U.S. dollar was flat on Friday as a slight uptick in core inflation failed to deter expectations that the Federal Reserve will cut rates at the end of July.
Investing.com - The U.S. dollar inched down on Thursday, extending losses made after comments from Federal Reserve Chairman Jerome Powell raised expectations that the central bank will cut rates at its next meeting.
Investing.com -- The dollar was mostly lower in early trading in Europe Thursday, extending losses made on Wednesday after Federal Reserve Chairman Jerome Powell dropped his clearest hint yet that the central bank will cut interest rates at its next policy meeting at the end of the month.
Investing.com - The U.S. dollar retreated on Thursday in Asia after Federal Reserve chairman Jerome Powell signalled the central bank is ready to cut interest rates soon.
Investing.com - The U.S. dollar index steadied on Wednesday in Asia ahead of a speech by Federal Reserve Chairman Jerome Powell, who is due to appear before Congress on Wednesday and Thursday for his semiannual testimony.
Investing.com - The U.S. dollar rose towards a three-week high on Tuesday as hope dampened that the Federal Reserve will ease monetary policy aggressively, while worry over U.S.-China trade tensions hitting corporate profits contributed to an equity sell-off on Wall Street.
President Donald Trump wants a weaker dollar, but there are questions as to how he could devalue the nation's currency and whether or not the Fed would be willing to help out.
BoJ Governor mentioned that the Bank would make necessary adjustments in the monetary policy to attain its inflation target. After facing a severe pullback on July 5, the EUR/USD pair had appeared to cling near 1.1228 mark.
The US dollar continues to show signs of strength against the Japanese yen, as we are plugging away to the upside. At this point, the market should continue to try to break out to the upside based upon risk appetite.
The British pound has found a little bit of support during the trading session early on Monday, as the ¥135 level continues offer support. If that’s going to be the case we could get a bounce back into the consolidation over the last couple of weeks.