XE Market Analysis: Europe – Apr 21, 2017

The dollar majors have been plying narrow ranges with the risk-off trade taking a breather but positional commitment remaining low into France’s election on Sunday. EUR-USD has settled in a narrow range just below yesterday’s three-week high at 1.0737, and USD-JPY has settled in the upper 108s. Gains above 109.00 in the case of the latter proved fleeting, with geopolitical risks and less acute Fed tightening expectations maintaining some safe haven demand for the yen on the one hand and a sell-on-gains play on the dollar on the other hand.

Source: XE news feed
XE Market Analysis: Europe – Apr 21, 2017