Urhobo Voice
Nigeria NewsLatest Nigeria News Update!

Forex News: United States Dollar Makes A Comeback Despite North Korean Nuclear Tensions

forex news

Forex News had the yen bulls capitulate in a turn around on Wall Street despite the geopolitical tensions because the Fed might just have to hold off from hiking forex rates or reducing the balance sheet enabling cheaper money for longer.

The fear measure, as forex news was faded big time by 3 handles off opening level while US yields tried to recover as did the DXY. The US benchmark ten-year yields closed -1.37% within a day range between 2.0841 – 2.1414%.

Forex markets were trading and recovering in a range of between 91.62 – 92.36 closing at 92.32 at the time of writing. The euro got through 1.20 but impressive gains to 1.2069 were short lived as investors doubt the ECB’s 7th Sep meeting will be as hawkish as the recent hype and Draghi will be unlikely to allow the euro to run much further without some verbal intervention.

The yen was down -0.43% by the close despite being a clear benefactor of the North Korean/Japan situation that sent USD/JPY as low as 108.26 before a recovery back to 109.90, closing at 109.72 at the time of writing.

Forex news gathered that the GBP was again riding the coat tails of the euro, but fell sharply on a resurgence of the greenback, dropping from 1.2978 highs to 1.2914 the low, -0.11% on the session.

The Canadian dollar and the Mexican peso were both lower as crude extends losses – 16% of US refining capacity is taken off line due to Hurricane Harvey.

The Aussie and Kiwi both lost out to the dollar, despite a robust session in copper again. AUD was down -0.29% and the bird lost -0.11% on the session.

Key events in Asia today

  • NZD: RBNZ Governor Wheeler Speech
  • Key notes from US session
  • Gold drops $15 from 2017 highs, erases daily gains
  • US Home Prices continue to climb – Wells Fargo
  • Tropical Storm Harvey is drifting back toward the Gulf of Mexico – UOB
  • Why does the yen strengthen even when, say, Japan is N.Korea’s target? – BBH
  • USD/JPY highly correlated to S&P 500 and the Dow Jones – BBH
  • USD/JPY bounces to the upside as Wall Street recovers
  • US consumer confidence rises again – ING


Add a Comment

Your email address will not be published.

Comment moderation is enabled. Your comment may take some time to appear.