XE Market Analysis: Europe – Jul 11, 2018

The dollar majors have traded in narrow ranges so far today amid a tone of heightened caution as stock markets take a fresh tumble, led by Chinese bourses, due to another ratchet in trade warning tensions between the U.S. and China. U.S. index futures have also seen heft declines. USD-JPY has settled lower, near the 111.0 mark, after printing a seven-week high at 111.35 yesterday, while AUD-JPY, a relatively high beta cross, is down quite sharply, by over 0.6%. AUD-USD is down by a similar magnitude.