XE Market Analysis: Europe – Oct 29, 2020

The dollar and yen have softened after rallying strongly yesterday on safe haven demand. Short-term speculative participants and others accumulated large long exposures in these currencies, particularly in yen crosses such as CAD-JPY, and there has naturally been some impetus to book profits with U.S. and European equity index futures finding a footing after yesterday’s rout. The DXY dollar index ebbed back to a 93.34 low after peaking yesterday at 93.58, but remains up by nearly 1% from last week’s low. EUR-USD settled around the 1.1750 mark, up on yesterday’s 1.1717 low.

Source: XE news feed
XE Market Analysis: Europe – Oct 29, 2020