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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
The dollar firmed marginally in N.Y. trade on Thursday, as stocks advanced, and as Treasury yields edged up. Weekly jobless claims data were better than expected, and Q2 GDP was unrevised at 2.5%. FX dealings were fairly flat again, and major dollar pairings largely remained inside of well worn ranges. Read more
Ranges were pretty narrow for the most part, though GBP was a mover and shaker, taking a dip following an unexpected y/y revision lower in the final Q2 GDP estimate out of the U.K.. The report also showed unexpected weakness in business investment and a one-off boost to consumer spending that partly reflected the timing of deferred bonus payments to take advantage of a tax change. Read more
The JPY saw some chop in and otherwise subdued session for the FX majors and the AUD and NZD currencies. USD-JPY and EUR-JPY initially dipped to respective one-week lows of 98.27 and 132.68 before rallying, with the yen making its usual inverse correlation to the direction of the Nikkei-225 stock index, which was boosted by news that Japan's ruling LDP will look to make a corporate tax cut amid its stimulus plans, and confirmation that PM Abe will detail new stimulus measures on Oct-1. Read more
The dollar again meandered around inside of narrow trading bands in N.Y. dealings on Wednesday, and was mostly softer on the session. August durable orders were soft, while new home sales perked up some, both following weak outcomes in July. Equities and yields both moved lower, not helping the greenback at all. Read more
