Free Trial

Broad-based euro weakness was the theme.......>

FOREX
FOREX: Broad-based euro weakness was the theme during the Asia-Pacific session,
Catalan's election started the drift lower, with the unexpected victory for
Catalonia's three pro-independence parties, the drift lower turned into an
avalanche, when reports surfaced that acting German Foreign Minister Sigmar
Gabriel warned of a minority government, he added, an unstable government in
Germany could probably lead to political upheaval in Europe. Euro-dollar dropped
from $1.1876 to $1.1817 before stabilizing. Euro-yen and euro-sterling witnessed
 similar falls, Y134.66 to Y133.91 and Gbp0.8866 to Gbp0.88385 respectively.
Meanwhile, other currency pairs broadly consolidated and were held to tight
ranges. Aussie-dollar was confined to a $0.7700-18 range, a large expiry for
today at $0.7700 (A$3.53) proving to be magnetic. Dollar-yen was confined to
Y113.27 to Y113.39 range. Japanese players were notably side-lined ahead of
tomorrows birthday celebrations for the Emperor. 

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.