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The dollar rallied through the morning session on Wednesday, though trade was relatively quiet into the release of the FOMC minutes. Better housing data likely helped USD sentiment early, as did defensive reduction of short USD positions. The dollar rallied after the FOMC minutes, as yields moved higher with news that the Fed was mixed on timing, but intends to taper at some point. Read more
The dollar found light support against the FX majors ahead of the FOMC minutes. Movement across risk assets remained defensive, but the impact wasn't felt in the majors. However, the commodity currencies remained under pressure as market participants continue to digest the implications of reduced central bank policy stimulus. Read more
The dollar consolidated against EUR, GBP and CHF in Asia. There was further price chop via JPY and AUD, but overall activity was quieter than recent sessions as investors turned their focus to Fed policy ahead of today's FOMC minutes. USD-JPY found support on dips, leaving the 97.00 level intact and it managed to carve out a rally over 97.50 despite the latest news that the Fukushima nuclear plant had experienced its worst leak for two years. Read more
The dollar moved lower versus the European majors and the yen in N.Y. on Tuesday, while commodity backed currencies slipped on Asian growth concerns. EUR-USD moved to trend highs over 1.3450, as USD-JPY dipped back under 97.00 before recovering some. USD-CAD touched 1.0400, as AUD-USD fell under 0.9030 from over 0.9200 on Monday. Read more
It was a choppy session in FX. Early action was dominated by deleveraging as Asia FX came under more pressure amid capital outflows from IDR and INR, which triggered intervention by local reserve managers. AUD and NZD also fell sharply on dovish policy rhetoric from the RBA and RBNZ, along with proxy selling by fund names that were betting on more Asia market stress. Read more
The downturn in global equity markets on Monday continued in Asia and this kept JPY and CHF supported on dips. The dollar was steady against the majors, which maintained levels close to Monday's close, while AUD and NZD fell sharply on central bank rhetoric and a negative spill over from emerging FX. Read more
FX trade was extremely quiet in N.Y. on Monday, with no data, and largely flat equity markets keeping direction plays to a minimum. Treasury yields firmed up a bit, perhaps keeping the greenback's downside in check in afternoon trade. USD-JPY however, did pull back modestly in late dealings, after failing to hold the 98.00 handle, That pairing eased back toward 97.70 into the close. Read more
Most of the activity of any significance came late on in the European morning after a very quiet start. Summer trading conditions left larger players out of the market initially, leaving the USD mildly supported after last week's bout of repositioning ran its course. Read more
Activity across the G10 FX was still fairly disjointed in thin trade. The dollar was mixed overall, holding ground across the European majors, but against JPY and the commodity bloc currencies it came under pressure. Japanese data was encouraging for the region as July trade revealed a rise in exports and imports, which forced the deficit out to Y1.024 tln. Read more
The dollar tried to head lower again in early N.Y. trade on Friday, though eventually made up modest ground into the weekend. Relative to Thursday's volatile session, trade was quite light on Friday, with major dollar pairings remaining inside of recent trading bands. Read more
