ASIA-PAC FX UPDATE: DXY on either side of 110.50 whilst JPY looks ahead to BoJ
Analysis details (02:47)
In FX, DXY has a range on either side of 110.50 and under its 50 DMA at 110.87, with downtick in the index seen in recent trade towards session lows. EUR/USD is slightly firmer but under parity following the fallout from the ECB, whilst sources after were mixed and suggested three Governing Council members wanted a 50bps move, whilst the ECB did not mean to imply slower hiking with its “progress remarks”. GBP/USD found some overnight support near the 1.1550 level. USD/JPY is the current marginal laggard ahead of the BoJ policy announcement, in which the central bank is expected to reiterate its ultra-dovish stance. Antipodeans are relatively uneventful whilst the AUD/NZD cross also prints a tight 1.1069-80 range. The offshore Yuan experienced a modest knee-jerk move lower after the PBoC opted for the weakest Yuan fix since February 2008.
28 Oct 2022 - 02:46- Research Sheet- Source: Newsquawk
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