Free Trial

FOREX: US Dollar Stronger Again, Yen Outperforming G10

FOREX

The US dollar has continued to strengthen during APAC trading with the BBDXY USD up 0.2% and close to its intraday high. Thus the G10 has seen broad-based weakness against the greenback except for the yen, as was the case on Friday. NZD, NOK and EUR have depreciated the most. 

  • NZDUSD is down 0.3% to 0.5813, close to the intraday low. The government announced that it would go ahead with a capital injection into Kiwibank of around NZ$500bn. It wants to increase competition in the banking sector.
  • Ahead of Tuesday’s RBA decision, AUDNZD is 0.2% higher at 1.0983. The RBA is unanimously expected to leave rates at 4.35%, whereas the RBNZ has eased 125bp this year to 4.25%. AUDUSD is down 0.1% to 0.6384, close to the intraday trough.
  • USDJPY has range traded between 149.70 and 150.10. The pair is currently little changed at 149.95. AUDJPY is down 0.1% to 95.74.
  • EURUSD is down 0.3% to 1.0537, close to the intraday low. NOK and SEK are also lower leaving the crosses against the euro little changed. EURCHF is down 0.1% to 0.9274 and EURGBP -0.1% to 0.8282.
  • Equities are generally lower with the Hang Seng down 0.6%, ASX -0.2% but Nikkei up 0.2% and S&P e-mini flat. Oil prices are moderately higher with WTI +0.4% to $67.46/bbl. Copper is slightly lower and iron ore is steady around $104/t.
  • Later November NY Fed 1-year inflation expectations print and ECB’s Cipollone and BoE’s Ramsden speak. The Fed is in its pre-meeting blackout period.
246 words

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.

The US dollar has continued to strengthen during APAC trading with the BBDXY USD up 0.2% and close to its intraday high. Thus the G10 has seen broad-based weakness against the greenback except for the yen, as was the case on Friday. NZD, NOK and EUR have depreciated the most. 

  • NZDUSD is down 0.3% to 0.5813, close to the intraday low. The government announced that it would go ahead with a capital injection into Kiwibank of around NZ$500bn. It wants to increase competition in the banking sector.
  • Ahead of Tuesday’s RBA decision, AUDNZD is 0.2% higher at 1.0983. The RBA is unanimously expected to leave rates at 4.35%, whereas the RBNZ has eased 125bp this year to 4.25%. AUDUSD is down 0.1% to 0.6384, close to the intraday trough.
  • USDJPY has range traded between 149.70 and 150.10. The pair is currently little changed at 149.95. AUDJPY is down 0.1% to 95.74.
  • EURUSD is down 0.3% to 1.0537, close to the intraday low. NOK and SEK are also lower leaving the crosses against the euro little changed. EURCHF is down 0.1% to 0.9274 and EURGBP -0.1% to 0.8282.
  • Equities are generally lower with the Hang Seng down 0.6%, ASX -0.2% but Nikkei up 0.2% and S&P e-mini flat. Oil prices are moderately higher with WTI +0.4% to $67.46/bbl. Copper is slightly lower and iron ore is steady around $104/t.
  • Later November NY Fed 1-year inflation expectations print and ECB’s Cipollone and BoE’s Ramsden speak. The Fed is in its pre-meeting blackout period.