XE Market Analysis: Asia – Jan 24, 2018

The DXY was crushed to 89.20 lows in N.Y. trade on Wednesday, levels last seen in December of 2014. Selling kicked off in earnest after U.S. Treasury Secretary Mnuchin’s Davos comments, where he said a weak dollar is good for U.S. exports. EUR-USD topped at 1.2411 after opening at 1.2340, while USD-JPY slid to 108.95 from 109.58 highs at the open. USD-CAD printed 1.2317 lows on firmer oil prices, while cable surged to 1.4241 post-Brexit vote highs.[EUR, USD]

Source: XE news feed
XE Market Analysis: Asia – Jan 24, 2018