XE Market Analysis: Europe – Sep 10, 2018

The Dollar has held steady versus the Yen while losing ground to a broadly firmer Euro, inspired by a rally in Italian assets on welcome signs of budgetary prudence on the part of the Italian government. EUR-USD rallied out of a three-week low at 1.1526 that was seen in early London trading to the upper 1.1500s. The biggest gainer out of the Euro crosses has been EUR-CHF, which is up by over 0.5%, reflecting of an unwind in the Swiss Franc’s safe haven premium. EUR-USD still remains below the levels around 1.1615-20 that were prevailing ahead of Friday’s U.S. jobs report release.