XE Market Analysis: Europe - Sep 16, 2019

A stab of risk-off positioning drove the Yen higher in early trade, although follow-through has been limited. News that a drone attack on Saudi oil facilities have shut down 5% of global supply impacted at the open of trading. Some solace was taken on the view that the Saudi will be able to maintain exports for a time by tapping into crude stockpiles while work commences in restoring production, although oil prices, while down from the highs, are still showing a near 10% gain on the day, and there are concerns that U.S.-Iranian tensions could ratchet up given the suspicions of the former about the possible involvement of the latter. Read more