XE Market Analysis: North America – Feb 06, 2018

Comments are off

The dollar has held firm, and the yen firmer amid a persisting global risk aversion theme. Japan’s Nikkei closed with a 4.8% loss, and was showing intraday losses of over 6% at the lows, while the Shanghai Composite and Australia’s ASX 200 racked up losses of over 3%, and the main European indexes declines of over 2%. The narrow trade-weighted USD index (DXY) logged a two-week high at 89.72 before settling around the 89.50-60 mark, which is still just over 1% from the low seen last Friday. USD-JPY clocked an eight-day low at 108.45 in Tokyo as the yen continued to find safe haven bids.