Currency Analyst since 2010

May 27: Asian session

USD/JPY is trading just above 101.00 after dipping to 100.80 earlier today. Yen strengthened amid concern the Bank of Japan is struggling to control the nation’s bond yields through monetary stimulus. The BOJ Governor Haruhiko Kuroda said yesterday the nation could cope with rising interest rates, after yields on Japanese government bonds rose for a third week.

EUR/USD is consolidating in the $1.2915/45 range following the Friday’s quick test of the $1.3000 mark. There are no data releases on the agenda, so the market is expected to trade calmly on Monday.

AUD/USD opened with a gap down and touched $0.9615. NZD/USD slid below $0.8100. Australian and New Zealand dollars fell after China’s president signaled a tolerance for slower growth. In addition, US data due tomorrow are expected to show improvement in consumer confidence that may add to the case for the Fed to slow stimulus.

GBP/USD is consolidating at $1.5130. Demand for the pound remains subdued mainly due to weak data background from the past week. USD/CAD strengthened to $1.0325. USD/CHF found some support around 0.9600. Today the US and UK markets are closed for a holiday.

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