INTERNATIONAL CURRENCY BUZZ :
- Forex – Yen gains as BoJ holds steady as expected, repeats CPI view
- Forex – Aussie weaker after RBA minutes discuss impact of China slowdown
- Forex – USD/JPY lower after BoJ holds, Fed in focus
The pound edged higher against the U.S. dollar on Tuesday, after data showed that U.K. consumer prices rose in line with expectations last month, while sentiment on the green- back remained vulnerable ahead of the Federal Reserve’s policy statement this week. GBP/USD hit 1.5457 during European morning trade, the session high; the pair subsequently consolidated at 1.5451, adding 0.16%.Cable was likely to find support at 1.5335, the low of September 10 and resistance at 1.5507, the high of August 27.The U.K. Office for National Statistics reported on Tuesday that the consumer price indexrose 0.2% last month, in line with expectations, after a 0.2% fall in July.
The U.S. dollar dropped against the yen on Tuesday, after the Bank of Japan left its monetary policy unchanged and investors remained cautious ahead of the Federal Reserve’s policy statement due on Thursday.USD/JPY hit 119.75 during late Asian trade, the pair’s lowest since September 8; the pair subsequently consolidated at 119.77, sliding 0.40%. The pair was likely to find support at 118.83, the low of September 8 and resistance at 120.83, Monday’s high.Earlier Tuesday, the BoJ said it had not changed its policy calling for ¥80 trillion in annual asset purchases by the central bank, to help spur inflation and stimulate growth. The yen was higher against the euro, with EUR/JPY declining 0.40% to 135.48.
- BUY GBP/USD ABOVE 1.5360 TARGET 1.5380 1.5410 SL 1.5330
- SELL GBP/USD BELOW 1.5330 TARGET 1.5310 1.5280 SL 1.5360