The buck is in retreat as US yields fall

Once upon a time better growth forecasts were good for a currency but not today. US 10yr yields hvae slippedto under 2.34% after dozing around the 2.36/2.37% area.

US 10yr yields 10 10 2017

US 10yr yields 10 10 2017

That’s helped to give the dollar a shove down with USDJPT now down to 112.15 from 112.40.

EURUSD has nudged into 1.180, and cable is feeling out 1.3200 again. Tax chatter is getting the blame for a lot of this as more wars of words kick off around Trump and whether he’ll get the votes for his tax plan. Never a dull moment eh?

Should support into 112.00 not be sufficient to hold this move, 111.75/80 might offer a bit more. Resistanceinto 112.30/40 is now likely to show up.

USDJPY daily chart 10 10 2017

 

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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