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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
The dollar managed to move higher on Friday in N.Y. dealings, following a slightly better than forecast May employment report. The markets had priced in risks for a weaker NFP outcome, and when that didn't materialize, the dollar, equities, and Treasury yields all rose. Read more
FX markets traded quietly in Europe after the wild moves seen after Thursday's ECB press conference, which was the catalyst for long dollar liquidation and a massive meltdown in yen-funded carry trades. The dollar drifted higher from the European open, mainly due to a lack of interest ahead of the NFP release. Read more
USD-JPY and AUD-USD came back under pressure in Asia as hedge funds and short term specs continued to liquidate carry trade positions. The dollar remained under pressure, though mostly against the yen in Asia after it was crushed in N.Y. trade on Thursday. Read more
The dollar was crushed in N.Y. trade on Thursday, with the ECB initially driving EUR-USD up on the back of the ECB press conference. Draghi back-peddled to some extent from what looked like a shift towards a more activist policy last week, with no commitment to further policy measures today. Read more
The dollar was broadly lower during the European morning. Ahead of today's BoE policy outcome, Cable moved over 1.5450 amid the recent improvement in U.K. fundamentals, along with expectations of an unchanged policy decision. EUR moved into 1.3130 as market participants await today's ECB outcome. Read more
The dollar was broadly lower during the European morning. Ahead of today's BoE policy outcome, Cable moved over 1.5450 amid the recent improvement in U.K. fundamentals, along with expectations of an unchanged policy decision. EUR moved into 1.3130 as market participants await today's ECB outcome. Read more
The dollar traded on the softer side against most currencies, although AUD and NZD were the exceptions amid real money selling. Heavy long liquidation continued by macro funds and real money, which triggered an AUD break of 0.9500 and it extended to fresh trend lows of 0.9433. Read more
Consolidation set in ahead of central bank policy meetings and Friday's NFP data. U.S. stocks closed at softer levels on Tuesday, which set up a defensive tone in Asia, but overall there was no appetite to force a break of the recent range. USD-JPY dipped back below 100.00 as intra-day accounts reacted with disappointment to PM Abe's growth . Read more
