Free Trial

The US dollar was modestly weaker across......>

FOREX: The US dollar was modestly weaker across the board during the
Asia-Pacific session, with softer US TSY yields seen to weigh. Euro-dollar
drifted throughout the European morning session, rate held near the base of its
$1.1808-37 daily range with main focus on today's ECB. Cable eased from $1.3278
to $1.3212 as eur-stg extended its recovery off yesterday's post UK GDP low of
stg0.8880 to stg0.8940. As month-end approaches traders reminded of the usual
eur-stg demand. Firmer UST yields supported dollar-yen as the pair managed to
erode some of yesterday's NY losses to Y113.80. Euro-yen held firm with trade
tied to a narrow Y134.10-49 range, key tech resistance is seen at Y134.50, a
break opens a move toward Y134.60 (Dec4 2015 high). Dovish RBA Debelle remarks
that warned sizable spare capacity in labour market and inflation may remain
subdued, took the aussie back under $0.7700. Second wave sales moved through the
200-dma to 3-mth lows of $0.7678, before it later recovered to the $0.7693/98

To read the full story



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.