XE Market Analysis: Europe – Jul 31, 2017

USD-JPY logged a six-week low at 110.31 in the Tokyo session before recouping above 110.50, returning to near last week’s closing level at 110.64. The low was the product of a phase of yen buying aa markets in Asia to a turn in reacting to North Korea’s test firing of another ICBM late on Friday. Yen crosses also dipped and recovered. Outside the case of USD-JPY, the dollar majors traded within respective ranges from Friday, despite some month-end related flow going through. EUR-USD made time in the low-to-mid 1.17s, continuing to hold below last Wednesday’s 30-month high at 1.1776.

Source: XE news feed
XE Market Analysis: Europe – Jul 31, 2017