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Currency Analyst since 2010

May 17: Asian session

US dollar was near a 10-month high versus a basket of currencies after John Williams, San Francisco FRB president said the central bank may begin to taper its asset buying this summer.

USD/JPY keeps consolidating around 102.30. Japan’s core machinery orders added 14.2% (forecast: 3.1%). AUD/USD fell to new 11-month low at 0.9736. NZD/USD slid to $0.8087. AUD and NZD were sold heavily from multiple sources today.

EUR/USD is trading in the negative territory around $1.2865. Market sentiment remains bearish but the pair still holds slightly above the recent lows at $1.2840, supported by the downbeat US figures released this week. Today there are no market-moving events on the euro zone’s agenda.

GBP/USD returned to $1.5250 after the yesterday’s rebound above $1.5300. USD/CAD strengthened to 1.0220.

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