Forex: AUD/USD regains 1.0300

Following Friday's sell-off, the Australian dollar bottomed out at 1.0274 during the Asian session and managed to trim losses versus the greenback from there.

AUD/USD has climbed back above the 1.0300 mark to hit a daily high of 1.0308 in recent dealings. Having turned positive for the day, AUD/USD is currently trading at the 1.0305/1.0308 area, where it prints a 0.2% gain since opening.

From a technical view, the UBS analyst team holds a negative bias on AUD/USD. "With momentum tools threatening to cross lower with MACD below its zero line, focus is on support at 1.0227 ahead of 1.0149. Resistance is at 1.0375".

Feb 18, 2013

Forex Flash: USD/JPY to rise at a slower pace - Commerzbank

A G20 meeting with no real result was the best thing for the USD/JPY. "The G20 had to accept that a monetary policy aimed at national targets is the responsibility of the individual country and does not justify external interference – even if the exchange rate moves created do affect other economies. Effects of this nature are to be “monitored and minimised” according to the G20 statement but that is nothing but statement rhetoric without any meaning", wrote analyst Ulrich Leuchtmann, pointing out that Japan’s policy has not been restrained and the G20 have given Japan carte blanche to ease its monetary policy. "Should anyone have hesitated to sell the yen for fear of looming political coordination they can now rest assured and go ahead", he continued, adding that PM Abe's underlined that its policy aims at national targets only, not at the exchange rate...

Forex: USD/JPY goes under 94.00

Having reached its Asian session peak at 94.22, the USD/JPY has been consolidating today's gains around the 93.90/94.00 area, +0.50% higher on the day. The USD/JPY is strong on Monday after Japan's PM Shinzo Abe remarks before the Parliament, considering the removal of BoJ's independence in case the central bank misses the 2% inflation target.