XE Market Analysis: North America – Sep 06, 2017

The euro rallied against the dollar and other currencies. EUR-USD traded at three-session highs in coming within a few pips of 1.1950. There wasn’t a specific catalyst, and gains have come despite underwhelming German manufacturing orders data. Market narratives pointed to position jigging into tomorrow’s ECB meeting, even though a move toward QE tapering appears to be remote, and continued de-pricing in Fed tightening possibilities before year-end. USD-JPY logged a new low at 108.50 during the Tokyo session, subsequently recouping toward 109.00.

Source: XE news feed
XE Market Analysis: North America – Sep 06, 2017