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AUD/USD, USD/JPY Taking Advantage of US Dollar Weakness

AUD/USD, USD/JPY Taking Advantage of US Dollar Weakness

2014-04-10 10:30:00
Christopher Vecchio, CFA, Senior Strategist
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Talking Points:

- AUDUSD continues breakout towards 0.9500.

- USDJPY risks losing critical channel support at 101.50.

- Forex economic calendar picked up on Thursday.

To keep up with developments central banks and their policy changes, be sure to sign up for my distribution list.

The March FOMC minutes highlighted a noticeably more cautious tone among policymakers, who pushed back against the recent interest rate elevation in the United States, hurting the US Dollar. Citing the market's interpretation of the economic forecasts as too optimistic for the purported interest rate hike path, the minutes released yesterday were not the hawkish panacea the US Dollar was looking for.

Read more: FOMC Minutes Pose Risk as USD Breakdown Looms: GBP/USD, USD/JPY

The forex economic calendar is heavier today, and I'll be kicking off coverage of the GBP Bank of England Rate Decision at 06:45 EDT/10:45 GMT in the DailyFX Live Trading Room. Join for a discussion of trading setups in GBP-based pairs.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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