XE Market Analysis: Europe – Feb 14, 2018

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The dollar continued to deflate, led by ongoing and relatively hefty decline in USD-JPY, which has declined for a fifth straight session and is heading into the London AM session with a 0.5% loss on the day so far. The yen’s outperformance also continued to weigh on yen crosses, which many are taking as portending further heightened bouts of volatility in global markets, even as most equity markets have taken consolidative tone over the last day. USD-JPY logged a low earlier in Tokyo trading at 106.84, which is the lowest level seen since November 2016.