2/12/2021 3:40:21 PM GMT
USD/JPY retreats below 105, finds support at 104.55, recovers.
Chairman Powell: The US labor market remains weak.
Chairman Powell: Fed has no plans for rate increases or bond program reductions.
US Treasury rates move higher after Wednesday low.
FXStreet Forecast Poll sees no immediate increase in USD/JPY.
The USD/JPY reneged on its breakout promise this week dropping below 105 on Tuesday but support at 104.55 held on Thursday. The descending channel is increasingly distant and a declining a draw with the upper border below 103. Movement in the pair is tied to improvement in the US economy and Treasury rates.
2/12/2021 3:45:20 PM GMT
US Treasury yields have resumed their advances heading into the weekly close.
The AUD rose despite the sour tone of equities and falling gold prices.
AUD/USD retains its long-term bullish potential and could reach fresh yearly highs.
The AUD/USD pair advanced for a second consecutive week, recovering the 0.7700 threshold. The main driver was the generalized dollar weakness, amid tepid US employment data spiced with some dovish comments from US Federal Reserve head, Jerome Powell. The Fed president said that there’s a long way ahead to achieve full employment, adding that rates will likely remain at lows until the sector is fully recovered.
EUR/USD Current Price: 1.2128 US weekly unemployment claims held at high levels around 800K in the week ended Feb 5.
Financial markets are still in search .
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