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14 May 2025

USD/JPY: Further USD strength is likely – UOB Group

US Dollar (USD) is likely to trade in a range between 146.70 and 148.20. In the longer run, further USD strength is likely, but it could first trade in a range for a few days; the level to monitor is 149.30, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY can first trade in a range for a few days

24-HOUR VIEW: "Following the 2.14% surge in USD on Monday, we indicated yesterday, Tuesday, that 'The outsized rise appears excessive.' We added, 'This, combined with deeply overbought conditions, suggests that instead of continuing to rise, USD is more likely to trade in a 146.50/148.60 range.' USD then traded between 147.35 and 148.48. The price movements still appear to be part of a range trading phase. Today, we expect USD to trade between 146.70 and 148.20."

1-3 WEEKS VIEW: "There is not much to add to our update yesterday (13 May, spot at 147.90). As highlighted, 'while the sharp and rapid increase in momentum suggests further USD strength, deeply overbought conditions could lead to a few days of range trading first.' We also highlighted that 'The level to monitor on the upside is 149.30.' We will continue to hold the same view as long as 146.00 (no change in ‘strong support’ level) is not breached."

May 14, 2025

USD/CAD: Case for 1.40+ is stronger now – ING

USD/CAD observed volatility has eased back significantly, as the loonie seems to be trading again as an extension of US-growth sentiment – and is therefore more correlated with USD, ING's FX analysts Francesco Pesole and Chris Turner note.
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May 14, 2025

AUD/USD: Cheering the US-China de-escalation – ING

USD and the Australian dollar are the biggest beneficiaries in G10 from a de-escalation in US-China trade tensions, ING's FX analysts Francesco Pesole and Chris Turner note.
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