The US dollar is at the lows of the day at 102.09 against the yen
after weak current account data. The pair is down 10 pips since the
report as Treasury yields decline. Earlier today the pair hit a one-week
high of 102.31.
What’s interesting is that the current account report was
restructured to include definitional changes and new methods to revise
numbers back to 1999. That leaves economists scratching their heads
rather than drawing conclusions.
There are bids at 102.00 and just ahead. More at 101.82 but the larger bids are at the 200-dma at 101.61.
