XE Market Analysis: Asia – Feb 06, 2018

The dollar started the session on a firmer footing, as it appeared Wall Street would melt down again at the open, which it did. Safe-haven dollar buying was noted before the opening bell, though after plunging initially, stocks turned-tail higher, resulting in dollar selling. USD-JPY was somewhat of an outlier, as it largely maintained its negative correlation to equity market direction. EUR-USD bottomed at 1.2314 before topping at 1.2404. USD-JPY touched 109.65 highs, and a 109.09 base.