AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx Jul 18: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
18 Jul 2016 04:00GMT

USD/JPY - ..... The Japanese yen took centre stage in hectic trading on Monday despite closure of Japanese financial markets for Marine Day holiday.
Market volatility accelerated near New York close on Friday following breaking news of a military coup in Turkey, causing the pair to tank from around 105.70 to session lows of 104.64.
However, dlr opened higher in New Zealand on Monday following Bloomberg's report ahead of Asian open of early dovish comments by Japan's Chief Govt. spokesman Suga (see 00:00GMT update).
Price climbed from 105.07 to as high as 106.02 in Australia before retreating briefly to 105.31 at Asian open.

Dlr's aforesaid retreat from 106.02 suggests further choppy trading below Friday's 3-week peak of 106.32 would continue ahead of European open and in the absence of comments by Japanese official, the pair may drift lower.

Offers are tipped at 106.00/30 area from Japanese exporters) with stop above 106.50, however, more stops are touted above pre-Brexit high of 106.84.
Bids are noted are 105.40-30 and more below with some stops below 105.00.
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[AceTRaderForex]

AceTraderFx Jul 18: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
18 Jul 2016 09:12GMT

GBP/USD - ...... Despite cable's brief but strong retreat from 1.3270 to 1.3186 ahead of Asian open, renewed buying in sterling vs other major currencies pushed price higher again in European morning and the pair later briefly rose to a fresh session high of 1.3292 following comments from BoE's Martin Weale (see our prev. MMNs).

Although intra-day gain in the British pound during European morning suggests consolidation with mild upside bias would be seen, sharp gain is not likely due to the absence of UK economic events n data in European and New York session.

At present, bids are reported at 1.3240-1.3230 and more at 1.3220-10 with stops below 1.3200.
On the upside, offers are noted at 1.3290-00 and then 1.3310-20 with stops above there.

 

[AceTRaderForex]

AceTraderFx Jul 19: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
19 Jul 2016 04:09GMT

USD/JPY - 105.77.. Dlr erased intra-day gain in Asia as despite initial rise to a fresh 3-week peak of 106.33 in Australia due to return of risk sentiment following gains in the S&P and the Dow hitting record highs overnight, selloff in the antipodean currencies (aud & nzd) ahead of Asian open dampened risk appetite, leading to a broad-based liquidation of near term short yen positions, dlr fell to 105.70 before stabilising.

Looks like the daily high print is here to stay as choppy trading with downside bias is expected to take place.
Offers are tipped at 106.00/10 and more above with some stops above 106.35.
Initial bids are note at 105.70 and more below with stops touted below 105.20.

Later today, U.S. will release June housing starts and redbook retail sales data.

 

[AceTRaderForex]

AceTraderFx AceTraderFx Jul 19: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views

19 Jul 2016 09:03GMT

EUR/USD - ...... The single currency moved narrowly below yesterday's high of 1.1084 (New York) in Asia and then briefly dropped to 1.1049 in European morning.
However, renewed buying interest emerged there and lifted price to 1.1078 before weakening again following the release of downbeat ZEW reports for Germany and euro zone.

The Zew Centre for Economic Research said that its index of German economic sentiment plunged by 26 points to -6.8 this month from Jun's reading of 19.2.
Meanwhile, a separate report from ZEW showed that the index of euro zone economic sentiment dropped to -14.7 in July, the lower since August 2012, from 20.2 a month earlier.

At the moment, offers are noted at 1.1080-90 ans more at 1.1100-10 with stops above there, whilst bids are reported at 1.1050-40 and then 1.1030-20 with stops below 1.1010.

 

[AceTRaderForex]

AceTraderFx Jul 20: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
20 Jul 2016 03:17GMT

USD/JPY - ..... Although dlr continued its recent winning streak and climbed to a fresh 3-week high of 106.53 shortly after New York open on robust U.S. housing starts data (June data showed a monthly 4.8% vs previous reading of -0.3% increase).
However, active cross unwinding in yen then knocked price back down to 105.88 in New York afternoon. The pair staged a recovery to 106.26 ahead of Tokyo open before another wave of yen-buying pushed price to intra-day low of 105.84 in early Tokyo trading as the Nikkie moved into negative territory.

Looks look consolidation below 116.53 would continue in Asia, however, anticipated usd's strength vs G7 currencies suggests dlr would head towards pre-Brexit daily target at 106.84 (Jun 23 high) after intra-day sideways swings are over.
Bids are noted at 105.90-80 n more below with stops below 105.50. Initial offers are tipped at 106.25/35 and more above with stops reported above 106.85/90.

With no major U.S. economic data due out, technical trading and funds flow would be the dominant factors influencing intra-day price movements.

 

[AceTRaderForex]

AceTraderFx Jul 20: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
20 Jul 2016 05:27GMT

EUR/USD - .... Euro came under broad-based selling pressure and penetrated Monday's 1.1038 low after European midday yesterday on news report of an explosion in Ankara (Turkey), price remained under pressure and hit session low of 1.1000 on the back of robust U.S. housing data.
However, short-covering later lifted euro in New York afternoon and price edged back to 1.1027 in Australia before coming down to 1.1004 Asian trading.

The fact that euro is trading near said yesterday's low, suggesting market is very much eager to test euro's downside where stops are touted below there, therefore, selling the single currency is favoured as market is expecting a weak readng in EZ July consumer confidence following market woe in the wake of U.K. 'Brexit' vote outcome.

Offers are tipped at 1.1025/30 and more above with stops above 1.1050.
A mixture of bids and stops is touted near 1.1000 with more stops below 1.0970, there is market chatter of large stops building below June's post-'Brexit' bottom at 1.0912.

 

[AceTRaderForex]

AceTraderFx Jul 20: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
20 Jul 2016 10:05GMT

GBP/USD - ...... Although the British pound came under renewed selling pressure at 1.3116 in Australia and fell below yesterday's low at 1.3074 to 1.3065 in Asia, renewed buying in sterling especial vs euro lifted price to 1.3114 ahead of European open.
Later, price rallied from 1.3077 to as high as 1.3167 in European morning following the release of upbeat UK's jobs reports (see our previous MMNs).

At the moment, bids are noted at 1.3150-40 and then at 1.3130-20 with stops below 1.3110, whilst on the upside.
Offers are reported at 1.3180-90 and more at 1.3200-1.3220 with stops above 1.3240.

 

[AceTRaderForex]

Japanese Government plans USD186.60 billion stimulus package on deflated economy and effects of Brexit

Intra-Day Market Moving News and Views
21 Jul 2016 01:03GMT

USD/JPY - ..... Dlr rose after New York close earlier today to a 6-week high of 107.45. Traders cited an early report by Kyodo was the driver behind such move.
It was reported this morning that the Japanese government is planning to compile a stimulus package of at least 20 trillion yen ($186.60 billion) to help the economy emerge from deflation and fend off possible adverse effects of Brexit.

This stimulus package is likely to be double the 10 trillion-plus yen that was previously expected, as it will now include projects for fiscal 2017 and beyond and increase "zaito" low-interest government loans by 6 trillion yen, Kyodo reported, citing the sources.
And it is also possible that the stimulus package and public expenditure may increase even further, depending on agreements between the government and the ruling coalition of the Liberal Democratic Party and Komeito Party, source from the news agency.

Prime Minister Shinzo Abe's government will seek Cabinet approval for the stimulus measures in early August, Kyodo reported. The service-sector index fell to 15 from 17 in June, and was seen unchanged in October, reflecting weak domestic demand.
Bleak business sentiment should add to calls for policymakers to do more to revive a flagging economy, with the government eyeing a stimulus package of 10 trillion yen ($94.62 billion) or more and the Bank of Japan under pressure to ease policy further.

Reuters reported ahead of Asian open today confidence at Japanese manufacturers held steady in July but was expected to worsen to zero in the next three months, a Reuters poll found, as Britain's vote to exit the European Union further clouded the outlook for Japan's export-reliant economy.
The Reuters Tankan, which tracks the Bank of Japan's quarterly tankan survey, also found the service sector's mood fell in July to levels last seen in April 2013 when the BOJ embarked on massive monetary stimulus to reflate the economy.

The monthly poll of 534 big and mid-sized firms taken July 1-15, of which 266 responded, offered an early glimpse of Japanese business sentiment in the wake of the Brexit vote, which briefly prompted a sharp yen gain to below 100 yen versus the dollar.
The Reuters Tankan sentiment index for manufacturers was unchanged at 3 in July and was seen worsening to zero in October, dragged down by exporters of cars, electronics, steel and chemicals.

The sentiment indexes subtract the percentage of companies saying conditions are poor from those saying conditions are good. A positive number means optimists outnumber pessimists.

 

[AceTRaderForex]

AceTraderFx Jul 21: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
21 Jul 2016 09:00GMT

GBP/USD - ...... Reuters reported British retail sales suffered their sharpest monthly fall in six months in June, with officials citing poor weather hurting clothing sales rather than any impact from the vote to leave the European Union.
While retailers had not reported any anecdotal evidence of the unexpected result of the June 23 referendum affecting sales during the five-week period which ended July 5, the Office for National Statistics said.

However department stores got a boost from sales around the Euro 2016 soccer tournament and Queen Elizabeth's 90th birthday, clothing stores suffered another poor month after unusually changeable weather.
Thursday's figures were the first official data which might potentially have shed light on how demand was affected by the referendum, after other measures painted a mixed picture of consumer demand.

The ONS said that during the June period, sales volumes fell 0.9 percent, a bigger drop than economists' forecasts of a 0.6 percent dip, after rising by an above-average 0.9 percent in May.
Compared with a year earlier, June sales growth slowed to 4.3 percent from a robust 5.7 percent in May, a bigger decline than the easing to 5.0 percent forecast.

Looking at sales in the second quarter as a whole - which smooths out some volatility in the data - volumes were up 4.9 percent from a year ago compared with 4.1 percent growth in the first three months of 2016, the best since Q1 2015.

Borrowing for the three months to June was 8.3 percent lower than a year earlier.
Britain's budget deficit was around 4 percent of gross domestic product in the 12 months to March, down from more than 10 percent in 2010 but still among the highest of rich nations around the world.

Consumer spending has been a major driver of Britain's economic expansion over the past three years, but economists polled by Reuters on Wednesday now see on average a 60 percent chance that the Brexit vote will tip the economy into recession.
Official figures on Thursday showed that public borrowing in June fell to 7.8 billion pounds from 10.0 billion a year earlier, a much bigger fall than the drop to 9.2 billion which economists had forecast.

 

[AceTRaderForex]

AceTraderFx Jul 25: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
25 Jul 2016 01:42GMT

USD/JPY - ..... Dlr climbed to intra-day high of 106.73 following comments by BoJ Governor over the weekend who reiterated the central bank is not mulling so-called 'helicopter money'. Price opened higher at 106.19 (vs Friday's close at 106.09) and the pair then ratcheted higher in Australia, then in Asia on steady cross-selling in yen before easing.

Looks like another day of broad sideways swings would be seen following dlr's selloff from last Thursday's 6-week high of 107.49 to 105.42 and bids have been raised to 106.30-20 and more below with some stops reported below 106.00, however, good buying interest is touted above 105.50.

On the up side, offers are tipped at 106.70/80 and more above with stops above 107.00.
However, more selling interest is noted at 107.20/30, suggesting choppy range trading may well prevail today.

 

[AceTRaderForex]

AceTraderFx Jul 25: Intra-Day Market Moving News and Views EUR/USD

Intra-Day Market Moving News and Views
25 Jul 2016 09:27GMT

EUR/USD - ...... Despite intra-day initial weakness to a fresh 1-month trough at 1.0952 in Asia, renewed cross-buying in euro especially vs yen lifted price to 1.0979 ahead of European open.
Later price retreated to 1.0961 and then staged another bounce to 1.0980 following release of better-than-expected Germany's IFO surveys (see our previous MMNs).

At present, bids are reported at 1.0960-50 and more at 1.0940-30 with stops below 1.0920.
On the upside, offers are noted at 1.0990-00 and then 1.1010-20 with stops above there.

 

[AceTRaderForex]

AceTraderFx Jul 26: Yen jumped broadly ahead of Tokyo open after a massive stimulus measure

Intra-Day Market Moving News and Views
26 Jul 2016 01:18GMT

USD/JPY - ...... The Japanese yen jumped broadly ahead of Tokyo open after Nikkei newspaper of a massive stimulus measure, dlr tumbled from 105.89 (Australia) to as low as 104.77.
To fund part of the package, the government will compile a supplementary budget for the current fiscal year of around 2 trillion yen, according to Nikkei newspaper. The rest will be funded in the budget for the next fiscal year beginning in April 2017 next year.

The Finance Ministry had initially earmarked 3 trillion yen for direct spending from national and local governments under its draft fiscal stimulus plan. But the amount was doubled on requests for bigger spending by government officials and ruling party lawmakers, the Nikkei said without citing sources.
The size of spending could increase further as the government presents the draft stimulus plan for negotiations with ruling party lawmakers from Tuesday, the paper said.

The direct spending would be part of a massive stimulus package to bolster the economy, which would also consist of state subsidies to private companies and lending programmes from quasi-government financial institutions.
The total size of the package, which could be announced as soon as Aug. 2, could exceed 20 trillion yen, reported Nikkei newspaper.

 

[AceTRaderForex]

US Dollar pared day's heavy loss and climbed ahead of Tokyo open

Intra-Day Market Moving News and Views
27 Jul 2016 01:40GMT

USD/JPY - .... Dlr pared day's heavy loss and climbed ahead of Tokyo open, price penetrated o/n New York top of 104.98 to 105.19 in early Asian trading. Traders cited Reuters report for this intra-day broad-based yen's weakness.
Reuters reported in Australia Support is growing within the Bank of Japan for additional monetary easing on Friday with several options being floated as possibilities, the Nikkei newspaper reported on Wednesday.

But some in the nine-member board feel the central bank has done enough for now and thus are expected to dissent to any proposal for expanding monetary stimulus, it said. Advocates of further monetary easing point to diminishing prospects of Japan hitting the BOJ's 2 percent inflation target and the need to match monetary easing with an anticipated fiscal stimulus package due out early next week, the paper said.

The BOJ bureaucrats have internally laid out several options including deepening negative interest rates, expanding government bond purchases and topping up buying of exchange-traded funds (ETF), the Nikkei newspaper said without citing sources.
The BOJ governor and deputy governors will consider these options, though there has been little progress on narrowing down the options. BOJ will meet for a two-day policy meeting that ends this Friday.

 

[AceTRaderForex]

AceTraderFx Jul 27: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
27 Jul 2016 10:10GMT

GBP/USD - ...... Breaking news from Reuters, British retailers suffered the sharpest fall in sales in four years following the June 23 vote to leave the European Union, the Confederation of British Industry said today.
Stores have also cut orders with suppliers by the most since the 2008-09 financial crisis because they expect a further fall in demand in August, the CBI said - though it cautioned against drawing too strong conclusions from the figures.

Such "fiscal spending" appeared to have increased to 13 trillion yen. But the rest is likely to come from state subsidies to private firms and lending from quasi-government entities, which does not involve direct government spending and thus may not give an immediate boost to growth, analysts say.
Abe's administration has also offered few hints on how it will finance the package, casting doubts on Japan's ability to fix its tattered finances.

Sources have signalled the package will be funded in state budgets spawning several years. The government is considering issuing construction bonds but remains cautious about resorting to large-scale debt issuance.
Japan's finance ministry denied a media report it was considering issuing 50-year government bonds for the first time to capitalise on ultra-low interest rates.
While Abe may have succeeded in giving stocks a temporary boost, some analysts have doubts the impact will last.

The data represents an early gauge of how the retail sector has fared since the unexpected vote to leave the EU. Surveys of manufacturers and services firms last week suggested the economy is shrinking at the fastest pace since the financial crisis.

The numbers cover the period from June 28 to July 14, when Britain's Conservative Party was in the process of selecting a permanent successor to former prime minister David Cameron, who said after the vote that he would resign.
The CBI said its retail sales volume index for July fell to -14 from +4 in June, its lowest since January 2012. Expected sales for August were also the lowest since then.

Orders placed with suppliers fell at the sharpest rate since March 2009 and were expected to decline rapidly in August too.
Low inflation and high employment levels might help sales bounce back in the short run, but in the medium term the big fall in sterling would push up prices, the CBI said.

 

[AceTRaderForex]

Japan minster Ishihara said they & BOJ must work together to support the economy

Intra-Day Market Moving News and Views
28 Jul 2016 02:11GMT

USD/JPY - ...... Reuters reported this morning that in the wake of premier Shinzo Abe's announcement of a bigger-than-expected fiscal spending package, economy minister Ishihara was quoted as saying that the government and the Bank of Japan must work together to support the economy.
The remark suggests the earlier-than-expected announcement of Abe's economic package on Wednesday was an attempt by the government to pressure the BOJ into expanding monetary stimulus at a two-day rate review ending on Friday.

Abe unveiled a surprisingly large 28 trillion yen ($267 billion) stimulus package on Wednesday to reflate the economy, sending Japanese stocks higher and weighing on the yen.
Many BOJ policymakers prefer to hold off on easing on Friday, worried about the rising costs and diminishing returns of an already massive asset-buying programme that is drying up bond market liquidity.

But Ishihara's remarks suggest that political considerations may nudge the BOJ into action, even as the central bank struggles to beat economic headwinds with its dwindling policy tool-kit.
Finance Minister Taro Aso had also told reporters on Tuesday that he hopes the BOJ continues to do its utmost to beat deflation, signalling his hope of additional monetary easing.

 

[AceTRaderForex]

Japan's Core Consumer Prices Suffered Biggest Annual Decline Since BOJ Stimulus Programme in 2013

Intra-Day Market Moving News and Views
29 Jul 2016 01:05GMT

USD/JPY - 104.35.. Reuters reported Japan's core consumer prices in June suffered the biggest annual decline since the Bank of Japan embarked on its aggressive stimulus drive in 2013, piling pressure on the central bank to expand an already massive stimulus programme.
Separate data showed household spending fell 2.2 percent, down for a fourth straight month, underscoring the fragile nature of Japan's economic recovery.
Factory output rose 1.9 percent in June and the jobless rate fell to 3.1 percent, marking the lowest reading in nearly 21 years, with job availability at a nearly 25-year high, reflecting labour shortages, other data showed.

The data comes hours before the Bank of Japan concludes a closely watched two-day rate review ending on Friday, with near-consensus in markets that it will deploy additional stimulus to match the government's planned big spending package.

The central bank, under pressure from the government, is considering specific steps for expanding monetary stimulus to address signs of weakness in inflation, people familiar with the bank's thinking said.
The bank has been buying assets like exchange-traded funds (ETFs), but already holds around a third of Japan's market for government bonds (JGBs).

The 0.5 percent fall in the core consumer price index, which includes oil products but excludes fresh food prices, was lower than economists' median estimate for a 0.4 percent annual fall. It fell for fourth straight month, and the decline was the largest since March 2013, just a month before the BOJ deployed the quantitative and qualitative easing programme.
The so-called core-core inflation index, which excludes food and energy prices and is similar to the core index used in the United States, rose 0.4 percent in the year to June.

 

[AceTRaderForex]

AceTraderFx Aug 01: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
01 Aug 2016 09:35GMT

GBP/USD - ...... Cable swung wildly in volatile Monday trading. Price rebounded from 1.3200 (AUS) to 1.3273 in Asia and then fell back to 1.3204 in London morning after downbeat U.K. data.

Reuters just reported British manufacturing shrank at its fastest pace in more than three years in July, a survey showed on Monday, adding to signs that the country's vote to leave the European Union is hurting growth.
The data could give the Bank of England more impetus to cut interest rates on Thursday, after it surprised markets by holding fire in July but said most of its policymakers were leaning towards stimulus in August.

The Markit/CIPS UK manufacturing purchasing managers' index (PMI) fell to 48.2 in July from 52.4 in June, its lowest since February 2013 and below an initial "flash" reading reported in late July of 49.1.
Measures of output and new orders fell below the 50 mark that denotes growth for the first time since early 2013 due to weaker market conditions at home and uncertainty related to the EU referendum.

The output index fell to 47.8 in July from 53.6 in June, its lowest since October 2012, while new orders - which grew robustly in June - suffered their sharpest turnaround since 1998 and fell at their fastest rate in over three years.

All but three of 49 economists polled by Reuters expect the Bank of England to cut interest rates by at least 25 basis points on Thursday, but economists were divided on whether the Bank would restart its bond-buying programme.
The BoE will have to be careful to balance any hit to growth with rising price pressures, which were already evident in the PMI manufacturing survey.

Average purchase prices rose at their fastest pace in five years, with companies citing higher commodity prices and higher import prices, the latter resulting from the weaker currency. Sterling fell to a 31-year low against the U.S. dollar after the Brexit vote but has recovered some of that ground since.

Output price inflation was also the highest in nearly two years.
But the boost to exports from a weaker pound was less marked than previously estimated, Dobson said. A measure of new export orders slowed in July after hitting a seven-month high in June.

The PMI numbers were broadly in keeping with official data suggesting industrial production slowed towards the end of the second quarter after a strong April.

Data covering the post-Brexit period has been scarce so far. But there are signs consumer confidence is struggling, while Markit said its earlier one-off "flash" PMI surveys were consistent with the economy shrinking by a quarterly 0.4 percent if they persisted.

British finance minister Philip Hammond downplayed the flash PMI numbers saying they were a measure of sentiment and not of "hard activity".
But the numbers were enough to sway BoE policymaker Martin Weale, who more recently had been on the hawkish side of the rate-setting committee, to view the economic outlook "rather differently" he said.

 

[AceTRaderForex]

AceTraderFx Aug 02: Intra-Day Market Moving News and Views USD/JPY

02 Aug 2016 08:23GMT

USD/JPY - ...... Reuters just reported Japanese Prime Minister Shinzo Abe's cabinet approved on Tuesday 13.5 trillion yen ($132 billion) in fiscal measures in a stimulus package aimed at reviving flagging growth in the world's third-largest economy.
The fiscal measures comprise 7.5 trillion yen in spending by the national and regional governments, and 6 trillion yen from the Fiscal Investment and Loan Program, which is not included in the government's general budget.

The headline figure for the package, which includes spending by public-private partnerships and others that are not direct government outlays, comes to 28.1 trillion yen.

The government said it expects the stimulus to boost real gross domestic product (GDP) by around 1.3 percent in the near term.

Reuters then reported Japanese Finance Minister Taro Aso and Bank of Japan Governor Haruhiko Kuroda will hold an emergency meeting on Tuesday to confirm cooperation over fiscal and monetary policy, the Nikkei business daily reported.

The BOJ last Friday expanded stimulus by doubling purchases of exchange-traded funds (ETF), yielding to pressure from the government and financial markets to ease monetary policy.

 

[AceTRaderForex]

AceTraderFx Aug 03: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views USD/JPY
03 Aug 2016 01:14GMT

USD/JPY - ...... BOJ's policy board members shared the view that inflation expectations had weakened somewhat in the short term but remained on an upward path in the long term, minutes of the Bank of Japan's policy meeting held on June 15-16 showed on Wednesday.
The BOJ refrained from offering additional monetary stimulus at the June meeting despite anaemic inflation and weak global growth.
One member of in June repeated a call to reduce government bond purchases while another member said the focus has shifted to interest rates from asset purchases, highlighting doubts about the current policy framework.

At a subsequent meeting on July 29 the BOJ surprised investors by saying it would release a comprehensive review of its quantitative easing in September, reinforcing the view that the BOJ's current policy framework has reached its limit.

Reuters then reported Japan's top currency diplomat, Masatsugu Asakawa, said on Wednesday that foreign exchange moves were nervous and that he would watch the market closely.
Asakawa, the vice finance minister for international affairs, made the remarks to reporters at the ministry.

The dollar fell to a three-week low of 100.68 yen on Tuesday after the Japanese government approved a largely expected set of stimulus measures. It was trading around 101.20 yen on Wednesday.

 

[AceTRaderForex]

AceTraderFx Aug 03: Intra-Day Market Moving News and Views

Intra-Day Market Moving News and Views

03 Aug 2016 09:47GMT

GBP/USD - ...... Although the British Pound moved sideways in Asia and then briefly dropped from 1.3333 to 1.3287 shortly after European open, renewed cross-buying in sterling especially vs euro lifted price to 1.3358, following the release of in-line with expectation Markit/CIPS service PMI for UK.

At the moment, bids are reported at 1.3320-10 and then 1.3300-1.3290 with stops below 1.3280.
On the upside, offers are noted ahead of yesterday's fresh 2-week peak at 1.3366 n more at 1.3380-90 with stops above 1.3400.