Kantox currency update: dollar ticks up on a risk-on session
The dollar crawled up on Thursday and reached seven-week highs against the Japanese yen, fuelled by the upturn in equity markets and U.S. bond yields as geopolitical fears eased after U.S. Secretary of Defence, Jim Mattis urged caution about military action in Syria.
EUR/USD: retreats to 1.2300. The euro retreated from 1.2400 towards 1.2300 on Thursday, weighed by disappointing Eurozone industrial production data, and remains trading within the last three months trading range, between 1.2200 and 1.2500. At London market opening times, the EUR/USD is trading at 1.2320.
GBP/USD: two-month highs at 1.4250. The pound advanced on Thursday to hit its highest levels in more than two months at 1.4250 and approach key resistance area at 1.4340. At London market opening times, the GBP/USD is trading at 1.4250.
USD/JPY breaches 107.50 to reach 7-week highs. The dollar bounced up at 106.70 on Thursday and advance, buoyed by an improved market sentiment as geopolitical tensions eased, to break above the top of the last week trading range, at 107.50 and approach key resistance at 108.00 area. At London market opening times, the USD/JPY is trading at 107.60.
In the Calendar Today
The only event worth mentioning today will be the speeches of Fed officials Kaplan and Bullard, whose comments about monetary policy might have some effect on dollar volatility.
13:00 GMT Fed: Kaplan’s speech
19:00 GMT Fed: Bullard’s speech