Higher energy prices pressure JPY – MUFG

Higher energy prices pressure JPY – MUFG

MUFG’s Lee Hardman reports the Japanese Yen has weakened again, pushing USD/JPY back above 162.00 as higher energy prices and fading impact from last week’s verbal intervention weigh on the currency. He explains that uncertainty over any formal policy shift at the GPIF and the slow timeline for potential changes limit near-term support for domestic […]

Dovish NBP pressures PLN against Euro – ING

Dovish NBP pressures PLN against Euro – ING

ING strategist Frantisek Taborsky says Central and Eastern European FX will be driven by secondary data and policy expectations. A dovish National Bank of Poland stance and market pricing of future rate cuts are seen weighing on the Zloty, with ING’s models pointing EUR/PLN closer to 4.340. By contrast, ING remains constructive on the Koruna […]

Rally fades into range trade against US Dollar – UOB

Rally fades into range trade against US Dollar – UOB

UOB’s Quek Ser Leang and Lee Sue Ann note that GBP/USD gapped lower after briefly breaking above 1.3445, with momentum turning down and risks of a test below 1.3360, though 1.3320 is seen as distant for now. They judge that the advance from late last month has ended and expects a 1.3320–1.3445 range in coming […]