-
RBA holds rates with volumes light on US holiday
USD traded in a narrow range amid holiday-thinned liquidity. The DXY is trading around the 50- and 100-day SMAs near 103. The 2-year yield pushed up again to fresh cycle highs. It is nearing the banking crisis top at 5.08% seen in March. The 10-year yield is trying to break long-term trendline resistance just above 3.80%. EUR was relatively rangebound. The 50-day SMA is acting as near-term support at 1.0881. GBP printed a doji candle which was also an inside day. Cable has just slipped below 1.27 this morning in quiet trade. USD/JPY is consolidating its recent gains just below 145. Japanese authorities intervened at ... (full story)