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The dollar fell again in N.Y. dealings on Wednesday, taking EUR-USD over 1.3350, and USD-JPY under 95.20. The USD index fell to levels last seen in mid-February. Soft risk appetite, weaker equities, and deleveraging all conspired against the greenback, though USD-JPY did recover back to 96.00 in thin afternoon trade. Read more
Consolidation set in by the time the European morning ended, leaving EUR unchanged just under 1.3300. Cable was higher on the session as the recent upturn was supported by more positive U.K. data. The early action out of Europe was dominated by leverage flows, which weighed on the CHF, JPY and USD. Read more
In Asia, USD-JPY gained on repositioning and there was further choppy action via AUD-USD. Regional stock markets posted moderate losses, but several centers were closed, which dampened activity. The dollar consolidated Tuesday's losses, which left EUR in a tight range close to 1.3300 and Cable maintained a firm tone over 1.5600. Read more
FX trade was thin and choppy in N.Y. on Tuesday, with the dollar heading south once again. Rumors of impending Fed tapering supported the greenback initially, though a counter rumor later circulated, saying a September slowdown would be more likely, took the USD back toward session lows. Read more
The European morning session was dominated by deleveraging, which boosted JPY and CHF, but left the USD mixed overall despite U.S. 10-year yields reaching fresh 14-month highs. Asian markets fell after the BoJ left policy unchanged and failed to act to stem JGB market volatility. Read more
The dollar weakened overnight as intra-day accounts keyed off a downturn in USD-JPY amid disappointment that the BoJ left policy unchanged. The focus will turn to the accompanying press conference from BoJ Governor Kuroda, which is expected to cover recent market volatility and reiterate the BoJ commitment to the 2% inflation target. Read more
The dollar was mostly softer in N.Y. trade on Monday, though USD-JPY maintained some of its overnight bid tone. There was no U.S. data to drive the FX market, while U.S. equities moved lethargically on either side of flat through the session. EUR-USD made its way over 1.3260 after finding good support into 1.3180, perhaps on the back of Draghi comments, which sounded relatively hawkish (see below). Read more
The European morning was relatively quiet compared with the heavy price chop seen in the latter part of last week. European markets keyed off the Nikkei's 5% surge and the stability in USD-JPY, which took it over 98.75. AUD was weighed by China data, which provided evidence that China is slowing, though the impact on other currencies was muted overall. Read more
A positive for risk appetite is the Nikkei's 5% surge and the subsquent stability in USD-JPY over 98.00. This should set the market up for a steadier trading session, bearing in mind that it was a meltdown in yen-funded carry trades that triggered heavy volatility last week. Read more
A positive for risk appetite is the Nikkei's 5% surge and the subsquent stability in USD-JPY over 98.00. This should set the market up for a steadier trading session, bearing in mind that it was a meltdown in yen-funded carry trades that triggered heavy volatility last week. Read more
