Major currencies are mostly trading little, with USD/JPY even staying below the 100-point range for the first time in Asia this week. Overall, the USD has been trading slightly lower, but today’s moves leave a lot to be desired. Here’s an overview of the current USD pairs:
US weekly jobless claims were better than expected, providing some relief to broader markets. Stocks were up sharply, largely shrugging off another poor bond auction here. The dollar also strengthened slightly but has slowly given up its gains against currencies like the euro and sterling in particular since the report.
The USD/JPY pair rose to just above the 147.00 level but has been consolidating at that level since then.
The pair is currently seeing price action confined between its major hourly moving averages. The 100-hour moving average is providing a floor at 145.64. Meanwhile, the 200-hour moving average is offering some minor resistance at 148.18 currently. This sets the range for the USD/JPY pair as we look to close out the week.
Elsewhere, S&P 500 futures were up 0.1%, while the Nikkei was up 0.9% on the day. The 10-year Treasury yield has dipped slightly below 4%, but is still around 3.97% now. There is at least some calm as we look ahead to European trading.