OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: USD/JPY at 94.50 while officials talk about Cyprus

FXstreet.com (Barcelona) - The USD/JPY extended its downside to 94.20 low as the European session opened and the IFO March survey showed disappointing figures in Germany. The pair has been able to bounce back to 94.50 while investors are kept on their toes in regard to Cyprus.

Despite recent reports saying Russia rejected loaning to Cyprus, Russian PM Medvedev said he didn’t close the door on aid to the country, according to Bloomberg. Most recent headlines show EU’s Barroso pointing to unanimous decisions by the Eurogroup toward Cyprus, that the country is burdened by the size of its banking system but that a solution can be found.

“Yesterday's slide from 96.10 high broke through 95.17 dynamic support and the outlook here remains bearish, for another wave downwards, to 93.65”, wrote Deltastock.com analyst Stoyan Mihaylov, point-ing to initial intraday resistance projected at 95.10.

Forex Flash: Few surprises from Kuroda maiden speech - OCBC Bank

OCBC Bank analysts note that in his inaugral news conference, newly elected Bank of Japan governor Kuroda expressed his commitments to do whatever it takes to beat deflation.
Read more Previous

Merkel and Troika reject Cyprus’s ‘Plan B’

Chancellor Angela Merkel told German lawmakers in the European morning that Cyprus’s proposition to nationalize pension funds in order to prop up its finances was unacceptable. She insisted that Cyprus should rather concentrate on debt sustainability and bank restructuring in order to secure a bailout. She also added that she would like the country to remain in the Eurozone.
Read more Next
Start livechat