FXstreet.com (Barcelona) - U.S. markets have opened on a slightly negative pace on Wednesday as investors take a breath after two days of gains. In the Forex markets The Dollar has bounced up strongly against the Yen whole the Euro and Pound remain trading sideways.
Dow Jones Index trades 0.3% down, while the Nasdaq Index drops o.3% and the same drop is seen on the S&P Index ten minutes after the opening bell.
In absence of key macroeconomic data, investors are waiting to the kickoff of earnings session to assess the pace and strength of economic recovery.
Dollar picks up against Yen
USD/JPY has bounced strongly from fresh 8-month low at 88.00 ahead of the U.S. markets opening, and the pair has stretched about 140 pips higher to hit an intra-day high at 89.40 right at the 100 hour SMA. At the moment the pair trades at 89.20.
EUR/USD has been rejected at its third attempt to break above 1.4735 intra-day high, and the pair has declined to a session low at 1.4665.
GBP/USD remains trading in a range from 1.5860 to 1.5940, consolidating after its pulldown from 1.6050 high on Tuesday.