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Jan 18 - 02:55 AM

USD/JPY - USD/CNY Gravitates Back Down As USD/JPY Reaction Abates

By Ewen Chew  —  Jan 18 - 02:10 AM
  • USD/CNY fades to 6.7718 from Wed peak 6.7889; SSEC flat

  • Reaction to BOJ policy hold, which boosted USD/JPY, abates

  • USD/AXJ broadly sags after initial spike due to USD/JPY effect

  • If USD/CNY closes below 6.7634, short-sellers might return

  • That would reinstate daily Bollinger downtrend channel

  • Global hedge funds raise China property exposure nL4N3421JI

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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