Japanese Yen (JPY)
The Japanese Yen (JPY) gained across the board as risk aversion spiked high and carry trades were liquidated. The Bank of Japan held rates at 0.5% yesterday and reported a lower growth forecast this year in the BOJ monthly report. EUR/JPY fell significantly through supports at 168 and 167. Overall the USDJPY traded with a low of 104.16 and a high of 106.27 before closing the day around 105.06 in the New York session.
The Japanese Yen (JPY) gained across the board as risk aversion spiked high and carry trades were liquidated. The Bank of Japan held rates at 0.5% yesterday and reported a lower growth forecast this year in the BOJ monthly report. EUR/JPY fell significantly through supports at 168 and 167. Overall the USDJPY traded with a low of 104.16 and a high of 106.27 before closing the day around 105.06 in the New York session.
Pound Sterling (GBP)
The Sterling (GBP) broke through resistance at 2.0000 level surging to highs of 201.57 as USD weakness and UK inflation data supported. June CPI hit 3.8% vs. expectations of 3.6% will above the 3% mandate set out for the MPC. Overall the GBP/USD traded with a low of 1.9933 and a high of 2.0157 before closing the day at 2.0018 in the New York session. Looking ahead, June claimant count is seen at 10K up from 9K and May Unemployment Rate seen at unchanged at 5.3%.
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