USD/JPY plunges after FOMC

USD/JPY remains heavy after plunging on comments by Federal Reserve Chair Janet Yellen following a FOMC statement. The pair fell to 123.02 in Asia and continued lower into the European open. During a press conference, Fed Chair Janet Yellen said that the Fed is waiting for ‘more decisive data’ before hiking.

EUR/JPY rallied to 140.45 with EUR/USD before a drop to 139.78 with USD/JPY.
GBP/JPY was also bid early, with 195.80 a fresh trend high, then saw a push back to 194.94 later.
AUD/JPY was up to 95.69, then down to 94.98.

EUR/USD was better bid as it rose on post-Fed and Yellen comments. Focus now shifts to Greece and the Eurogroup meeting in Luxembourg today. EUR/USD traded up from 1.1330 to 1.1374.
EUR/GBP was steady after new lows yesterday,trading between 0.7159-77.

GBP/USD was the best performer amongst the majors, due to a broadly weaker USD and hawkish Bank of England minutes yesterday. Also strong UK wage data out yesterday helped support. GBP/USD traded 1.5828-52, the highest since November 2014, with 1.6000 eyed.

USD/CHF was heavy, since USD is broadly weaker. The pair traded an Asia range of 0.9200-25. Meanwhile, safe haven flows add to CHF demand against USD.

EUR/CHF was steady between 1.0452-68, with little direction either way in Asia. 1.0404 was the spike low yesterday on Greece jitters, safe haven flows.

AUD/USD opened in Asia at 0.7750, traded soft between 0.7711-54.

NZD/USD collapsed from 0.6989 to 0.6880 in Asia on very weak New Zealand GDP data. Increases likelihood of rate cut by RBNZ.

The post USD/JPY plunges after FOMC appeared first on Forex Circles.

Source:: USD/JPY plunges after FOMC

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