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Eur/Usd came under fresh sell pressure in.....>
FOREX: Eur/Usd came under fresh sell pressure in Europe which pressed rate
through
reported demand into $1.1760/50. The pair saw a bit of whiplash as markets
reacted to the lower than forecast average hourly earnings coming in at 0.2% vs
forecast 0.3% and the release of stronger-than-expected US Nonfarm Payrolls
(228k). Rate eventually settled higher around $1.1760. Usd/Jpy was given a boost
in the European morning session as dollar momentum continued. A combination of
firmer UST yields with added support via Gbp/Jpy (Brexit deal to move to next
stage), lifted to Y113.59. Despite the release of stronger-than-expected US
Nonfarm Payrolls the pair touched react lows of Y113.13. The dip attracted fresh
demand interest. Usd/Jpy gained back nearly all of its earlier losses with rate
rising back to Y113.56. Albeit at a slow and jagged pace, Eur/Jpy drifted lower
to Y133.17 in Europe before remaining choppy in early NY as the Non-Farm
Payrolls and Average Hourly Earnings data were released. After reaching day's
lows of Y133.12 the pair rose sharply to intra-day highs of Y133.57 before
fading.
To read the full story
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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.