XE Market Analysis: North America – Feb 08, 2019

Forex markets have been lacking directional ambition. EUR-USD managed to briefly break lower, leaving a two-week low at 1.1322, before settling back to near net unchanged levels in the mid 1.1300s. USD-JPY remained in the mid-to-upper 109.00s, and Cable became entrenched in a narrow range in the mid 1.2900s, consolidating after the pound yesterday surged over 1% to a 1.2996 high. AUD-USD was the liveliest of the major Dollar pairings, diving during the Sydney session to a five-week low at 0.7060 after the RBA shaved growth forecasts in its quarterly Statement on Monetary Policy.