Forex news from the European morning session 11 Feb
News:
- Japan's Asakawa says they're watching markets "to see if there are speculative moves"
- ECB's Nowotny says UK would lose financial sector privileges if it leaves EU
- SNB's Jordan says they have no target exchange rate for EURCHF
- Russia's Nabiullina concerned by heightened exchange rate volatility
- The ForexLive guide to BOJ intervention - The do's and do not's, the where's, why's and how's
- Interest rates could go even more negative says IMF's Vinals
- It's a love-fest for the shiny stuff as panic increases elsewhere
- USDJPY orders, barriers and technical levels
- Time to get (even more) bearish on USD vs yen and euro say Credit Suisse
- Technical analysis - NAB still see further declines in AUDUSD
- Option expiries 10am NY cut today 11 Feb
Data:
- Switzerland CPI Jan mm -0.4% as expected
It's been all about the yen again as Asian gains continued into European trading.
It didn't take long for it all to kick off and as the DAX fell by over 3% leading others down we soon had USDJPY plunging through 112.00, then 111.50 in rapid time triggering stops all the down before finally taking out the 111.0 barrier support.
That seemed like job done though and since then we've seen some consolidation in both fx and equities with USDJPY nudging higher and now surging back higher as I type.
The euro has seen good demand again as has the swiss franc while the pound has felt the brunt of all that with EURGBP up to 0.7875 ,GBPJPY down to 159.80 and GBPCHF to 1.3925 all sending cable lower to 1.4388 from 1.4535.
USDCAD has rallied to 1.4013 on weaker oil before retreating to 1.3965 while AUDUSD tested support around 0.6980 on AUDJPY sales. Ditto NZDUSD down to 0.6585.
Yellen has Day 2 of her testimony at 15.00 GMT which will keep markets, algo boxes and traders on high alert in these blink-and-you-miss-it conditions.
