FOREX: Consolidation was the theme during the...
FOREX: Consolidation was the theme during the Asia-Pacific session, the greenback holding onto gains made yesterday following a relatively upbeat sounding Fed-Chair Yellen and expectations the Trump administration will shortly unveil a stimulative tax reform plan. Dollar-yen trekked higher from Y112.22 to Y112.54, the topside currently being capped by reported supply from Japanese Exporters, linked to half-year hedging requirements. Dollar-yen was last at Y112.40. Aussie-dollar carved out a $0.7971 to $0.7989 range, last at $0.7975. Meanwhile, Euro-dollar currently trades at $1.1787 and Cable at $1.3434, after trading in respective ranges of $1.1777 to $1.1795 and $1.3433 to $1.3461.