XE Market Analysis: North America – Jul 31, 2019

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Narrow ranges have been prevailing into the Fed’s policy announcement later. EUR-USD settled lower, back under 1.1150, after earlier edging out a four-session high at 1.1162. The 25-month low seen last week at 1.1101 remains in scope. USD-JPY continued to ply a relatively narrow range in the mid 108.00s, while Sterling has settled above yesterday’s major-trend lows, although with little sign of even a half decent dead-cat bounce as markets weigh higher odds for a no-deal Brexit scenario under the new UK prime minister, Boris “I’m serious about a no-deal” Johnson.