EUR/USD remains bid, USD/JPY fluctuates on Kuroda comments

EUR/USD maintained gains after edging higher by 80 pips on Monday despite trouble in Greece and a risk of a Greek default. EUR/USD opened in Asia 1.1284 and traded 1.1261 and 1.1282. Thursday’s Eurogroup meeting will be an important risk event.

USD/JPY was quiet, with some volatility on Bank of Japan Governor Kuroda’s comments today. USD/JPY traded between 123.32-81, with most action around 123.50. Speaking again in parliament today, Kuroda said he was not making any assessment on nominal yen levels or predicting its future moves when he described the yen as being “very weak” in comments to parliament last week. At that time, his comments made the yen jump. Wednesday’s FOMC meeting and statement as well as Fed Chair Janet Yellen’s press conference will be the main driver of the dollar/yen pair.

EUR/JPY traded between 139.05-44, with the market increasingly jaded to Greece news. GBP/JPY traded between 192.31 to 193.02 while AUD/JPY remained bid between 95.56-96.00 despite a dovish RBA minutes today.

GBP/USD edged higher to 1.5613. UK inflation data today will be closely watched while Wednesday’s UK jobs data and Bank of England minutes will be key risk for the pound.

USD/CHF was initially bid with USD/JPY, to reach a 0.9316 high, but later off to 0.9290. EUR/CHF was steady in Asia, consolidating between 1.0480-94 after an overnight fall.

AUD/USD opened in Asia at 0.7764, then see-sawed between 0.7743-81. It fell to 0.774 then saw some volatility after the RBA minutes, to touch 0.7742 and then 0.7779.

NZD/USD has been unable to rise above 0.7000 and traded a tight 0.6987-0.7010 range in Asia.

The post EUR/USD remains bid, USD/JPY fluctuates on Kuroda comments appeared first on Forex Circles.

Source:: EUR/USD remains bid, USD/JPY fluctuates on Kuroda comments

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