Morgan Stanley shifts to buy-the-dips dollar stance, yen call unchanged
Morgan Stanley now neutral with bullish bias on dollar, stays bearish on yen, favours krone as energy hedge.
Morgan Stanley now neutral with bullish bias on dollar, stays bearish on yen, favours krone as energy hedge.
Bank of Japan Governor Ueda speaks in Tokyo on Tuesday. Traders look for signals on a possible October rate hike.
The dollar is firmer against six of seven major currencies, stock futures are lower, and Treasury yields are steady ahead of the ISM services report.
Japanese officials intensified calls for yen strength and policy tightening, but USD/JPY remained near 158, supported by US yields and safe-haven demand.
US September payrolls rose 29K, far below the 90K expected. Unemployment ticked up to 4.2% and wage growth slowed.
Markets await September payrolls with Fed pricing at 7.1 bps and oil down on European reserve release talk.
Dollar weakness pushed USDJPY and USDCHF below hourly moving averages, while USDCAD's pullback brought its trendline into focus.
USD/JPY suddenly dipped at an unusual time, sparking speculation of intervention or a fat finger error.
UBS sees USD/JPY sell signal in month-end rebalancing; BofA flags yen and pound selling. Caution urged on sudden FX moves.
Oil slips, yen firms, Nikkei up 1.0% despite weak data; Australian CPI rises 4.0%, China PMIs beat.
USD/JPY declined to around 156.4 on Wednesday, driven by yen repatriation flows and Fed comments, with other yen crosses also lower.
Japan's finance minister said a cheap yen is problematic and pledged close US coordination, keeping pressure on USD/JPY without naming any action.
USD/JPY trades in a 155-160 range as intervention concerns cap upside and Treasury yields provide support, per Credit Agricole.
Japan's top currency diplomat Mimura reaffirmed a strong currency alliance with the US, keeping intervention on the table as the yen strengthens.
The dollar pulls back against most majors on profit-taking and lower oil prices, but technical bias still favors the greenback. Key levels identified for five…