Forex: USD/JPY rallies on last US session of 2012
FXstreet.com (Barcelona) - A sudden wave of risk sentiment at 14:00 GMT threw the USDJPY to higher daily levels, being capped at 86.47, ahead of the US Senate meeting that is scheduled at 16:00 GMT.
The last attempt at reaching a "fiscal cliff" deal before year end is attracting attention, despite the thin volumes as the world celebrates the New Year. It's being reported that talks between Senate minority leader Mitch McConnell and VP Biden happened late into the evening at the White House yesterday.
"We remain bearish on the JPY but, with the market heavily short JPY already, we prefer to look to buy USDJPY dips (GBPJPY, etc.) dips", wrote TD Securities analysts, pointing to short-term USDJPY support at 85.50.
The last attempt at reaching a "fiscal cliff" deal before year end is attracting attention, despite the thin volumes as the world celebrates the New Year. It's being reported that talks between Senate minority leader Mitch McConnell and VP Biden happened late into the evening at the White House yesterday.
"We remain bearish on the JPY but, with the market heavily short JPY already, we prefer to look to buy USDJPY dips (GBPJPY, etc.) dips", wrote TD Securities analysts, pointing to short-term USDJPY support at 85.50.
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