XE Market Analysis: North America – Jun 12, 2019

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The Yen has seen a modest outperformance as a risk-back-off theme ensued in global markets, while the Dollar picked up bids at the expense of the Euro, which came under pressure after German and Portuguese auctions of 10-year paper produced record low yields. The Aussie and other commodity currencies saw moderate underperformance, correlating with declines across global equity bourses. The biggest mover out of the main Dollar pairings and associated cross rates was AUD-JPY, which is an effective forex market barometer of risk appetite in global markets.