USD/JPY Dips But Holds Key Uptrend Support
The US Dollar followed a bullish path above the 147.00 pivot level against the Japanese Yen. USD/JPY even traded above 148.00 and traded to a new multi-week high at 148.45.
Source: actionforex.com
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Euro and Pound Feel PMI Squeeze, While Yen's Descent Continues
Yen languishes as the day's worst performer, with sentiments taking a hit due to BoJ's silence on potential policy tweaks. European majors aren't faring much better, as subpar PMI data from both Eurozone and UK echo the sentiment that further tightening might not be on the cards for ECB and BoE. The Swiss Franc also feels the pressure, even if the pace of its earlier slide has decelerated.
Source: actionforex.com
German PMI improves, but remains in contraction in September
The activity in the German private sector continued to contract in September despite improving slightly compared to the previous month, a preliminary report by S&P Global and Hamburg Commercial Ba...
Source: teletrader.com
Yen Down on Silent BoJ; DOW Stares at Key Support in Week's Finale
In a move that left many market observers bemused, Yen declined in Asian trading session after BoJ opted for continuity, leaving its monetary policy untouched. Notably, the bank refrained from dropping any hints about potential alterations in its policy stance in the foreseeable future. With US 10-year yield surging to a remarkable 16-year high, Yen may face further selling pressure in the coming sessions. Meanwhile, attention is shifting to forthcoming PMI releases from major economies, including Eurozone, UK, and US, as the week approaches its end.
Source: actionforex.com