Free Trial

The greenback trades stronger against all.....>

FOREX
FOREX: The greenback trades stronger against all other G10 currencies with the
exception of the JPY as European markets react to the passage of a resolution to
the US government shutdown.
-Most major pairs have retreated from multi-month highs, with GBP/USD dipping
back below $1.3950 and EUR/USD back below $1.2250. The correction in the DXY has
been relatively modest - markets noting that last night's agreement merely
delays a longer-term resolution decision to early February, making another gov.
shutdown stand-off very likely in just a few weeks' time.
-USD/JPY rallied above Y111 following the BoJ's unchanged decision, but macro
sellers above the handle succeeded in pushing the rate back toward Y110.50 as US
treasury yields sank closer to 2.6%.
-AUD is one of the poorer performers this morning as iron ore prices sank (down
close to 2.5% since Monday's open), but support has been found ahead of Jan18
lows at $0.7942.
-US Richmond Fed Manufacturing Index is due at 1500GMT, alongside Eurozone
Consumer Confidence.

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.