- Markets are getting comfortable with the new China fx regime and remain calm this morning
- Latest PBOC fix only 0.05% stronger versus Thursday 1.1% devaluation, is expected to have little impact on the fx markets
- Greenback climbed higher against the yen post Yuan fix, currently trading at 124.41, slightly lower from session highs at 124.52
- Immediate resistance is seen at 124.52 (100-HMA) and further at 124.53 (hourly cloud top), while supports are located at 124.07 (Aug 13 Low) below that at 123.77 (Aug 12 Low)
- Markets await a series of key macro releases from the US due later in the New York session for further direction
The material has been provided by InstaForex Company – www.instaforex.com