XE Market Analysis: Europe – Jan 05, 2018

.The dollar traded mostly firmer during the pre-London session in Asia. USD-JPY has rallied for a third consecutive day, this time hitting a nine-day peak at 113.11. This extends the rebound from the thee-week low that was seen earlier in the week at 112.05. A record-breaking rally on Wall Street, and strong equity market gains in Asia and globally have weakened the yen, as per the usual inverse correlation the Japanese currency often displays during phases of pronounced risk appetite. AUD-USD took a hit following an unexpected blowout in Australia’s trade deficit.