Free Trial

Euro/dollar: Europe open $1.1807,......>

EURO SUMMARY
EURO SUMMARY: Euro/dollar: Europe open $1.1807, range $1.1745-1.1807, NY open
$1.1754, range $1.1748-1.1772
*Extended lows to $1.1745 in early NY, where rate met demand pushing the pair
towards $1.1765.
*A fresh wave of dollar pressure, in reaction to a statement from
North Korea SAYS JOINT U.S.-S.K "AN AGGRESIVE WAR SCENARIO TO CARRY OUT
PRE-EMPTIVE STRIKES AGAINST THE
DPRK" INCLUDING "A SECRET OPERATION TO REMOVE THE LEADERSHIP" - Reuters News.
Witnessed the rate jump towards $1.1775
*Touched pullback lows of $1.1751 following the strong US Richmond
Fed mfg release, before stalling ahead of support from the daily low ($1.1745)
and bouncing back towards $1.1770.
*As US Tsys yields grinded higher, the pair followed suit with a
wave of broad based dollar demand, with rate falling towards $1.1750.
*The pair remained in consolidation mode in to the NY close, with the market
looking to Jackson Hole for direction. 

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.