XE Market Analysis: Europe – Dec 16, 2016

EUR-USD is firmer, USD-JPY is softer today with the post-Fed hike rally having come to a pause. Dollar dips have remained shallow, however. The highest EUR-USD print so far having been 1.0448, some 66 pips short of yesterday’s high, while the lowest USD-JPY print so far being 117.97, which is 60 pips above yesterday’s low. We have been targeting the 2016 high at 121.68 in the case USD-JPY with the Fed’s policy bearing contrasting to the BoJ’s, which earlier this week announced it would ramp up purchases of debt maturing in 10 to 25 years as part of its “yield…

Source: XE news feed
XE Market Analysis: Europe – Dec 16, 2016