XE Market Analysis: Europe – Oct 24, 2016

The dollar opened the week in consolidative mood, holding near recent highs. The euro was also steady after recent underperformance, seen as markets factored in the ECB extending its QE program beyond next March, which is expected to be announced at the December council meeting. EUR-USD settled in the upper 1.08s, above Friday’s seven-month low at 1.0859. USD-JPY plied a narrow range in the upper 103s, entering what looks to be a second week of consolidation after the rally from levels near 100.00 in late September capped out at a high of 104.63 on October 12. Most yen crosses saw…

Source: XE news feed
XE Market Analysis: Europe – Oct 24, 2016