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USD Weakness Filtering Through in Early European Trade

USD
  • Some USD weakness filtering through in recent trade, resulting in EUR/USD re-approaching the overnight lows of 1.1885. A break through here initially opens 1.1909 - key resistance that held well post-Nonfarm payrolls.
  • Rate not seeing much support from EUR/GBP though, which holds just above unchanged but off the overnight highs of 0.8586. 0.8603, the Sep 01 high marks the first upside level to look out for.
  • Saunders comments so far doing little to push GBP in either direction - talking up possibility of rate hikes in the coming "year or so" but infitting with his relatively hawkish stance on the MPC.
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