With the bond selloff resuming, USD/JPY is tracking higher although it is off its earlier high of 122.75 to 122.30-40 levels currently. The pair stays underpinned as month-end and quarter-end trading is also out of the way now, allowing traders to focus a little bit more with less uncertainty.
The dollar in itself is trading rather mixed as it is keeping lower against the aussie but is trading little changed against other major currencies such as the euro, pound, loonie and kiwi.
EUR/USD is stuck within a 35 pips range and sitting around 1.1055 currently, down just 0.1%. So, that is a bit of a snoozefest as we await the US non-farm payrolls to provide some impetus for direction. I wouldn’t count on it though.
The aussie is a decent mover with AUD/USD tracking back above 0.7500, up by 0.4%, but previous attempts to sustain a move above that in March trading failed. The October resistance @ 0.7555 is one to watch in terms of key technical levels to the upside.