XE Market Analysis: Europe – Feb 24, 2017

The dollar has been in consolidation during the Asian session. USD-JPY has settled in the upper 112s, consolidating above yesterday’s two-week low at 112.55. The yen has traded weaker today after rallying on a safe-haven bid yesterday following the comments from new U.S. Treasury Secretary Mnuchin, which inspired some selling on Wall Street. Mnuchin had also spoke of an “excessively strong” dollar. Talk of EUR-JPY buying into the 119.00 level helped underpin USD-JPY. EUR-USD is showing a fractional gain on the day, and is within a few pips of yesterday’s high at 1.0595.

Source: XE news feed
XE Market Analysis: Europe – Feb 24, 2017