Article by ForexTime
USD/JPY dipped in the Asian session, extending losses following the news of the downed Malaysian Airlines plane over the Ukraine. Meanwhile other geopolitical tensions in Gaza also led to risk aversion and increased demand for the safe haven yen. USD/JPY continued lower to 101.09 early, just above the May 21 101.06 spike low. Moving higher later in the session, the pair traded to 101.41. EUR/JPY edged up from 136.71 to 137.13.
EUR/USD opened in Asia at 1.3526, relatively unchanged on the day and unaffected by market volatility overnight on the spike in geopolitical fears. Early EUR/JPY sales helped it down to 1.3512 before edging back up to 1.3529. Despite considerable pressure, EUR/USD has held in its recent 1.3500-1.3700 range, and could very well continue to do so.
GBP/USD traded similar to EUR/USD, off early on GBP/JPY sales but bouncing later. The range was 1.7084-1.7105. EUR/GBP traded sideways between 0.7909-15.
USD/CHF did little in Asia, trading a tight 0.8974-82 range. EUR/CHF traded soggy between 1.2136-41.
AUD/USD opened in Asia at 0.9351 and fell early to 0.9336 on AUD/JPY sales before bouncing later to 0.9368.
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Article by ForexTime
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