XE Market Analysis: Europe – Jan 10, 2017

The dollar has traded steady-to-softer, losing moderately versus the euro and yen, but gaining versus a still-underperforming sterling. USD-JPY logged a two-session low of 115.19 as Tokyo markets returned to the fray following a long weekend in Japan. The conjecture in the market is that higher oil prices and recent weakness in the yen have eroded BoJ easing expectations, which has shifted the relative yield dynamic. USD-JPY’s low from last week at 115.07 is in the frame. A breach below here would put the pair in one-month low territory, and a daily close below here would signal a shift to…

Source: XE news feed
XE Market Analysis: Europe – Jan 10, 2017