USD/JPY Catapulted to New 24 Year Highs
The pair extends this week’s rally to levels not seen since August 1998, as USD strength persists and markets brush aside JPY verbal intervention
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The pair extends this week’s rally to levels not seen since August 1998, as USD strength persists and markets brush aside JPY verbal intervention
The Australian central bank hiked rates by another 0.5% on Tuesday and pointed towards further increases ahead, but maintained optionality as to the future moves
The hourly chart on the right is instructive. The EURUSD gapped down on the market open following Gazprom's announcement that it shut off Russia's gas supply to Europe via its Nord Stream 1 pipeline. The EURUSD found support at the S2 pivot.
EURUSD charts potential continuation pattern on the daily timeframe.
USDOLLAR short-term analysis - 31 August 2022
The pair remains supported after as markets contemplate the recent hawkish rhetoric from the two central banks, but can’t escape parity
Rate adjustments will likely influence USDOLLAR as Fed Chair delivers his speech today.
The EURUSD shows bearish signs today despite the ECB signalling further rate hikes. The ECB may have a limited degree to move.
The market is pricing in a tight policy. However, the Fed pivot is still possible, making for a fascinating Jackson Hole symposium.
GBPUSD hourly shows weakness ahead of the US session
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