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Activity was light over the course of the Asia and European session. However, there was some pre-Fed price chop. The standout flows went through JPY, which was boosted by option related flows via USD-JPY amid large expiries at 99.00 and 98.75, along with Middle Eastern account supply in EUR-JPY from 132.50 through 132.00. Read more
The was no interest to take on fresh positions ahead of today's FOMC outcome. This left the G10 inside familiar trading ranges. EUR-USD remained near the 1.3350 region, Cable traded close to 1.5900, USD-JPY traded in front of 99.00 and AUD-USD moved quietly either side of 0.9350. Read more
FX Trade was again very quiet in N.Y. on Tuesday, as many hunkered down ahead of Wednesday' FOMC announcement and press conference. EUR-USD was held to a 1.3337 t o1.3369 range, as USD-JPY langusied inside of 99.06 to 99.38. Tame August CPI weighed onthe greenback marginally, while July TIC data, and housing price indicators had little impact. Read more
The FX majors consolidated overnight as the focus turns to Wednesday's FOMC policy outcome. Some form of tapering is priced in, as well as dovish forward guidance. The Larry Summers withdrawal from the Fed chair candidacy also raises the prospect of a Yellen appointment, which is viewed as more likely to result in a gradual withdrawal of policy stimulus. Read more
The FX majors consolidated overnight as the focus turns to Wednesday's FOMC policy outcome. Some form of tapering is priced in, as well as dovish forward guidance. The Larry Summers withdrawal from the Fed chair candidacy also raises the prospect of a Yellen appointment, which is viewed as more likely to result in a gradual withdrawal of policy stimulus. Read more
Fallout from Larry Summers' withdrawal from Fed chairman consideration faded through the N.Y. session, as the dollar clawed back some of its overnight losses. Equities and Treasuries maintained a good chunk of their gains though, as markets pondered Fed tapering under Janet Yellen's helm. Read more
Dollar losses dominated the Asia session in response to news that Larry Summers withdrew his candidacy for Fed Chairman. The dollar gapped lower at the open and remained under pressure throughout the session, which left EUR over 1.3350, Cable above 1.5950 and USD-JPY under 99.00. Read more
Dollar losses dominated the Asia session in response to news that Larry Summers withdrew his candidacy for Fed Chairman. The dollar gapped lower at the open and remained under pressure throughout the session, which left EUR over 1.3350, Cable above 1.5950 and USD-JPY under 99.00. Read more
The dollar dipped early in the session as the White House said U.S. President Obama has not made a decision on the Fed Chairman, according to Dow Jones. USD-JPY fell from 99.75 to just under 99.60 and EUR-USD edged back into 1.3300. The Nikkei report that Summers could be named as the next Fed Chairman boosted the dollar in late Asia. Read more
The dollar recovered some of Thursday's lost ground, though the well defined weekly range remained intact. There was no appetite to force a break of range ahead of next week's FOMC meeting. The situation in Syria is not as clear cut as it was with Syria leader Assad pushing back against the proposed chemical weapons handover. Read more
