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The dollar was supported overall in Asia and Europe as market participants digested the Fed policy statement. On balance, the market judged that Fed policy tapering was still on for September if data continues to improve. EUR pulled back from 1.3300 and ebbed under 1.3250 despite better than expected Eurozone PMI as the focus remained on policy decisions from the ECB and BoE. Read more
The dollar is supported overall as market participants digested the Fed policy statement. On balance the market judged that Fed policy tapering was still on for September if data continues to improve. EUR pulled back from the 1.3300 region and traded through 1.3270, while USD-JPY saw good buying interest from 97.70 and traded through 98.30 during the Asia afternoon. Read more
The dollar rallied in morning trade, then pulled back to opening levels ahead of the FOMC announcement. The greenback got an early boost from a much higher than expected preliminary Q2 U.S. GDP reading (though Q1 was revised sharply lower), and in-line Q2 ECI, and slightly softer Chicago ISM print. Read more
The was movement today in Europe despite the looming slew of risk events this week. The JPY logged fresh highs against the USD and EUR, the AUD logged a fresh trend low near 0.9000 before finding a toe-hold, the market continued to drive GBP lower as it discounts an adoption of forward guidance at the BoE this week, and EUR-USD saw a 60-pip whip-saw amid speculation that Obama's plan to lower taxes for America corporations might take the form of the former U.S. Read more
The ranges of the main currencies were narrow in pre-European Asian trade today. Markets were essentially on hold until the U.S. Fed's statement later on Wednesday, which is likely to confirm that QE is drawing to a conclusion while emphasizing that the exit will be managed according to how the economic recovery evolves. Read more
The dollar was generally firmer in N.Y. trade on Tuesday, though activity was again on the low side into Wednesday's U.S. GDP and ADP jobs data, and of course the FOMC announcement. EUR-USD traded down to 1.3235 lows after taking out option barriers at 1.3300, while USD-JPY reclaimed the 98.00 handle. Read more
The USD corrected some of the gains it saw yesterday against the main European currencies, while the AUD was the underperformer today as it extended to fresh trend lows today. The JPY was near net unchanged after first weakening during Tokyo trade and then recovering during the European morning session. Read more
The USD held firm in Asia, following the tone established yesterday during the European and North American sessions as the market adjusted in the face of important upcoming risk events, which include policy meetings of the Fed, ECB and BoE, and the U.S. Read more
FX trade was very lethargic in N.Y. on Monday, with major dollar pairings mired inside very narrow ranges. Focus has shifted to risk events later this week, which include the FOMC, ECB, and BoE meetings, along with the key July U.S. employment report on Friday. Read more
USD-JPY sank to a fresh one-month low after a risk-off seen in Asia, which supported the yen, while the high-beta Australian currency weakened. The MSCI Asia equity index posted over a 1.6% loss following weak data and corporate earnings leads, though European stocks managed to gain, aided by strong Italian business confidence, which following last week's strong Eurozone PMI data. Read more
