XE Market Analysis: Asia – Nov 29, 2016

The dollar started the session on a stronger footing, though spent the remainder of the day largely fading lower. Month-end adjustments, and paring of long USD positions into Wednesday’s ADP jobs report was the rationale. The market took advantage of improved U.S. Q3 GDP revisions to sell into. EUR-USD based at 1.0565 after the data, and made its way to highs near 1.0650 after the London close. USD-JPY meanwhile, topped at 113.34 after the GDP data, before falling under 112.50 later in the session. USD-CAD ignored the 4% plunge in oil prices, falling to 1.3415 from 1.3480, as cable rallied…

Source: XE news feed
XE Market Analysis: Asia – Nov 29, 2016