XE Market Analysis: Europe – Dec 07, 2017

Both the yen and the Australian dollar came under pressure today, the former as its safe haven premium unwound some amid a steadying in global stock markets, which were aided upward by a rebound in tech stocks, while the latter was pressured on data showing a sharp drop in Australia’s trade surplus. USD-JPY settled to firmer levels, around 112.50, above yesterday’s four-session low at 111.99. Technically, the picture is somewhat convoluted. The pairing has been in broadly sideways chop around, roughly, 108.0 to 115.00, for eight months now, and more of the same looks likely.

Source: XE news feed
XE Market Analysis: Europe – Dec 07, 2017