USD/JPY supported by Yellen comments

Currency Summaries

• USD/JPY slow grind up, retracement low 123.11 post-123.68 high, bias up.
• Asia 123.23 to 123.40, still heavy 123.50+, pre-124.00, market long.
• Plenty option expirations between 123.00-50, limiting factor too.
• EUR/JPY heavy pre-ECB, short-covering over, 130.81 to 130.62.
• GBP/JPY steady post-o/n fall on weak construction PMI, Asia 183.96-184.27.
• AUD/JPY, NZD/JPY bounces from early lows, 89.77 to 90.26, 81.68 to 82.11.
• Demand still for yield, over-the-turn carries.

• EUR/USD 1.0619 to 1.0590, EUR/JPY 130.81 to 130.62, flows light though.
• Plenty EUR option expiries nearby to limit moves pre and post-ECB.
• @E4 bln on 1.04, @5.4 bln on 1.05, @6.2 bln on 1.06, @3 bln on 1.07.
• EUR/GBP buoyant after yesterday’s rally, Asia 0.7095-0.7104.
• EUR/CHF soggy, Asia 1.0800-19 after overnight fall, below 1.0821 100-DMA.

• Cable heavy alongside EUR/USD, 1.4950 to 1.4923 in Asia.
• Post-weak construction PMI, Yellen low 1.4897, retracement high 1.4957.

• USD/CHF sees small bounce from o/n 1.0180 low, Asia 1.0182 to 1.0210.
• Some option expirations below today, 1.0130-80 @1.0 bln, supportive.

• AUD/USD opens Asia at 0.7312, off to 0.7284 then bounce to 0.7321.
• Iron ore prices off overnight, trade deficit widens.
• Sellers retreat later, allows grind back up to New York closing level.
• EUR/AUD likely in play tonight, Asia 1.4560 to 1.4466, short-covers over.

• NZD/USD in tight 0.6628-59 range in Asia, ECB the focus.
• Swoon early with AUD before bounce later, AUD up too.
• EUR/NZD likely in play tonight, cross heavy in Asia, short-covers over.
• Broad core 0.6600-0.6700 NZD/USD range intact for now.

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Source:: USD/JPY supported by Yellen comments

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