XE Market Analysis: North America – Jun 18, 2018

The dollar traded with little committed direction, overall, although it gained against an underperforming pound, as markets anticipate the BoE MPC meeting this week, and losing some ground to the yen, which was buoyed by burgeoning risk-off vibe in global markets. EUR-USD saw a low of 1.1565 and, subsequently, a 1.1610 high. Both the low and the high are comfortably within the range that was seen on Friday (1.1543 to 1.1627), and the prevailing price action can best be described as a consolidation of the sharp losses that were seen in the wake of the ECB’s policy decision last Thursday.