Traders are grabbing “risky” assets and shedding safe-havens like the JPY. USD/JPY has sprung back to life after retrencing early this week and now trades back above the 99.00 level. 99.10/20 is congestion near-term while 98.55 is now solid support. 99.55/60 is very important resistance above the market.
Aside from the ADP report, CNBC reports the New York Times article on BofA got it wrong. The bank does not need 34 bln in additional capital; it needs a total of $34 bln in capital. It’s stock is much higher in pre-market trade.
