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The dollar held steady in Asia after it recovered from trend lows in N.Y. as the U.S. government shutdown did not have a significant impact on U.S. markets. It is widely though that the shutdown has effectively eliminated any risk of an October Fed policy change. Read more
The dollar firmed, equities rallied, and Treasury yields were fairly steady in the aftermath of the U.S. government shutdown. FX trade was subdued early in the session, seeing EUR-USD idle on either side of 1.3550, after posting eight month highs near 1.3590 in London. Read more
The dollar took a dive in early London trade after non-committal trade during the Asian session following the failure of Washington to compromise on a government spending bill or a Continuing Resolution. However, follow-through proved limited with markets taking the view that the partial shutdown of government won't prove too detrimental to growth, though there still a lot of potential obstacles, particularly concerning the debt ceiling showdown later in the month. Read more
The market reaction has so far been muted to news that the U.S. government is heading for shutdown after a compromise was not struck on a government spending bill or a Continuing Resolution. Helping offset were a set of encouraging data out of both Japan and Australia. Read more
The dollar and yen were mostly softer in N.Y. trade on Monday, after posting modest gains in overnight trade. EUR-USD moved over 1.3555, after finding support just under 1.3500 at the open. USD-JPY meanwhile, sagged to trend lows near 95.60, though found Japanese support at the level, and later bounded over 98.35. Read more
The JPY and GBP were the main gainers amid a moderate risk-off theme as U.S. and Italian politics , along with a disappointing revision to the HSBC measure of China September PMI (to 50.2 from 51.2), take a negative hold on investment appetite. EUR-USD saw some chop, diving 40 pips at the Asia-Pacific session open, but was unable to break free of the gravitational pull of 1.3500, having left last week's low at 1.3461 unchallenged. Read more
News of the weekend were risk-off, which saw the USD and JPY rise against most other currencies in the Asia-Pacific session amid a backdrop of declining stock markets. EUR-USD dove about 40 ticks at the open to a low of 1.3478 before recovering to the 1.3500, leaving the pair about 20-30 pips below levels seen around the London close on Friday. Read more
The dollar faltered broadly in N.Y. trade on Friday, mostly the result of end of week, month and quarter conditions. There was talk of USD selling from fund accounts cleaning up their books for the quarter, which resulted in EUR-USD over 1.3560, USD-JPY under 98.25, and cable back over 1.6100. Read more
Ranges were narrow among the FX majors. EUR-USD remained anchored around 1.3500, with the euro little impacted by solid Eurozone confidence, aside from a modest lift, while sterling spiked following remarks from BoE Governor Carney, who said that there was no case for further QE in an improving economy, though the currency's upward momentum evaporated pretty quickly. Read more
Ranges were narrow among the FX majors since yesterday's London closing levels. The JPY posted modest across-the-board gains following news of the fastest acceleration in CPI inflation in nearly five years, a sign that re-inflationary policies are taking effect. Read more
