The strongest to the weakest of the major currencies
The EUR and CHF are neck-and-neck for the strongest of the major currencies, while the JPY is the weakest. The USD initially moved lower after the CPI data, but quickly snapped back to the upside.
- The EURUSD erased all pre-release gains on the day.
- The GBPUSD not only erased the gains, but extended to new lows on the day
- The AUDUSD spiked above the 0.6600 level and above a swing area between 0.6601 and 0.66087, but then spent the next 7 or 8 hours moving to the downside closing near session lows (near the swing low from last week’s trading at 0.6516).
AUDUSD failed on spike higher and started fall.
The USDJPY moved up 0.73% on the day helped by rising yields that saw the 10 year up 11 basis points. The 2 year rose 5.2 basis points.
In the process, the USDJPY pair moved swing by from August 3 at 143.88 up toward the next key target swing area that comes in near 144.98 to 145.90. The high for the year was back on June 30 at 145.07. The high price today reached 144.81 and is trading at 144.75 currently.
The EURJPY, which rose by 0.76%, extended above the ceiling area between 157.90 and 158.046. The price reached a high of 159.201 before backing off into the close. That was the highest level since the end of August 2008. The current price is trading at 158.87..
EURJPY breaks above ceiling & to high since August 2008