The U.S. dollar has settled off the highs yesterday from the 4 January USD Intraday Technical Analysis, with Euro moving slightly up on Eurozone’s PMI’s signal. Dig in!
4 January, HotForex –USDJPY has given back of half of its post-FOMC minutes gains in declining under 112.50. A peak was logged at 112.77 before Japanese corporate selling after the Tokyo fixing put a cap on the pairing, which yesterday lifted from around 112.30 after the minutes showed Fed members contemplating that the tax cut could boost consumption and capex.
In Japan today, the final December manufacturing PMI was revised to 54.0 from the flash outcome of 54.2, while BoJ Governor Kuroda (who will be stepping down this year) said that the economy was showing steady growth. Geopolitical concerns are in the mix, particularly concerns that North Korea will conduct another provocative ICBM text, a backdrop that has seen markets build up a premium in the yen.
4 January USD Intraday Technical Analysis (+Video)
USD Recovery mixed post-FED Mins – The dollar has settled off the highs yesterday, with Euro moving slightly up at 1.2027, on Eurozone’s PMI’s signal of strongest growth since 2011 today. Eurozone services, composite PMIs revised slightly higher, to 56.6 and 58.1 respectively from 56.5 and 58.0 reported with the preliminary reading.
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