XE Market Analysis: Europe – Nov 09, 2017

The dollar has traded moderately softer, led by a 50 pip tumble in USD-JPY after news that a U.S. three-carrier strike group was conducting exercises off the Korean peninsular seemed to rattle some nerves in markets, prompting buying of the safe haven Japanese currency while pushing stocks — particularly markets in Japan and South Korea — off highs. While USD-JPY drifted from levels around 114.00 to levels around 113.50, EUR-USD pushed above 1.1600 , a level that the pair has been narrowly orbiting for two days now, since logging a three-and-a-half-month low at 1.1553 on Tuesday.

Source: XE news feed
XE Market Analysis: Europe – Nov 09, 2017