USDJPY has taken out whatever big resistance was sitting at 111.70 to a high of 111.82
The resustance I mentioned in the cable post just now has been taken out and we look like we’ve hit some stops to a new high of the day.
At 13.30 GMT we get the latest GDP revision and aside from the headline, keep an eye out for the PCE numbers. The data is lagging and we get the latest monthly PCE report on Friday but the market is all about inflation right now. That’s part of some big Fed related data due over the next couple of weeks.
In the meantime, 111.90 is the next band of resistance to watch as the dollar goes on one of its recoveries.
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