Littlefish FX | Sep 11, 2015 04:49AM ET
USD pressured overnight as players pare positions heading into next weeks critical FOMC session. Markets continue to reprice lower the probability of a rate move next week.
EUR/USD hit a six day high testing stops above 1.13 as the USD fell amid the mixed US data, deepening the concerns of the prolonged hold of US interest rates at emergency levels.
The Bank of England kept rates at record-low 0.5 percent this month as expected, while the vote was 8-1. GBP/USD hit a two-week high of 1.5475 against the dollar after BOE policymakers showed less concerns about the domestic impact of turmoil in global markets.
USD/JPY rallied for a fourth day after a lawmaker said the BoJ’s late October meeting would be a “good opportunity” for further monetary stimulus. Liberal Democratic Party lawmaker Kozo Yamamoto, who has advised Prime Minister Shinzo Abe on economic policy, said that the BOJ should increase annual asset purchases by at least 10 trillion yen
Technical Commentary
EUR/USD Short Term (1-3 Days): Bullish – Medium Term (1-3 Weeks) Bearish
GBP/USD: Short Term (1-3 Days): Bullish – Medium Term (1-3 Weeks) Bearish
USD/JPY: Short Term (1-3 Days): Bullish – Medium Term (1-3 Weeks) Bullish
EUR/JPY: Short Term (1-3 Days): Bullish – Medium Term (1-3 Weeks) Bearish
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