FOREX: USDJPY Marches On, Dollar Strength Filtering Through To Broader G10
Apr-26 15:23
- The greenback has been steadily grinding higher over US hours, as the dust settled following the US core PCE data. USDJPY continuing to print fresh highs at 157.40 in recent trade, extending the bounce from the post-BOJ lows to roughly 1.55%.
- Broader strength filtering through across G10 as EURUSD and GBPUSD slide below Thursday’s worst levels, and both register losses of 0.5% on the session.
- GBPUSD’s move higher this week was allowing an oversold condition to unwind, with trend conditions remaining bearish. A resumption of weakness would open 1.2266, the Nov 14 2023 low. Resistance to watch is 1.2583, the 50-day EMA.
- Equities are off the best levels, however, the early bid keeps the Australian dollar as a relative outperformer with AUDUSD tracking close to unchanged on Friday. Both NZD and CAD sit mid-range, ~0.25% in the red against the dollar.
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