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Greenback Aided to New Highs on Way Through WMR Fix

FOREX
  • EUR/USD hitting the day's lowest levels through the London close, with particular pressure on the pair coinciding with the 4pm WMR fix. Greenback remains the driver, with the recovery in US yields off the earlier low of 4.8012% helping aide the move in the greenback.
  • USD gains are broad-based, printing new daily extremes against most others in G10, with month-end USD demand potentially helping assist the latest leg of strength.
  • USD/JPY's gains Tuesday after the BoJ's surprisingly dovish approach to policy was reinforced by confirmation from the Japanese authorities that they had not intervened in currency markets at all across the month-ending Oct27, but markets remain on edge for any whip lower in the pair given the new multi-year highs across EUR/JPY and USD/JPY.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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