Currency Analyst since 2010

April 25: Asian session

USD/JPY rose to 102.50, but then returned by 20 pips lower. Japanese yen remained near the strongest level in a week against the dollar as tensions between Russia and Ukraine increased demand for safety. US Secretary of State John Kerry warned that Russia was running out of time to comply with an accord aimed at de-escalating the situation in its neighbor. Tokyo core inflation came at 2.7% the most in more than two decades, though was slightly lower than the forecast of 2.8%. Asian stocks fell, MSCI Asia Pacific Index dropped by 0.4%.

Commodity currencies have regained some ground in Asia. It was a holiday in New Zealand and Australia, so there is basically no news from the region. AUD/USD found support at $0.9250 and recovered to $0.9280. Aussie is consolidating at the lower border of the April bearish channel. NZD/USD met buyers at $0.8545 and rebounded to $0.8570. Gold consolidates at $1293,3.

EUR/USD is trading in the $1.3830 area. GBP/USD is just above $1.6800.

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