Currency Analyst since 2010

Sep. 4: Asian session

USD/JPY edged up to 104.90 after declining yesterday. US dollar is stronger versus Japanese yen ahead of the data forecast to show a pickup in U.S. employment, supporting bets the Fed will raise interest rates. The Bank of Japan kept its record stimulus unchanged at today’s meeting.

AUD/USD attempted to push higher following a strong “bullish engulfing” candle on Wednesday, but met resistance at $0.9360. As expected, Australia retail sales growth slowed from 0.6% in June to 0.4% in July. Trade deficit lowered to 1.36B. NZD/USD consolidates around $0.8310, slightly above the yesterday’s $0.8285 low.

EUR/USD edged down to $1.3440. GBP/USD is trading on the downside in the $1.6455 area.

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