XE Market Analysis: North America – Jan 04, 2018

The dollar whittled away gains seen yesterday following the release of the FOMC minutes. EUR-USD recovered above 1.2050, over 50 pips up on the post-minutes low, while USD-JPY settled to a choppy range around 112.50 after logging a high in early Tokyo trading at 112.77. The narrow USD index (DXY), at 91.94, was showing a 0.2% decline as of the early PM in Europe, though remain up on Tuesday’s four-month low at 91.75. AUD-USD, meanwhile, rallied to a three-month high of 0.7857, as did NZD-USD. USD-CAD also came under pressure, though the pair remain above the week’s trend nadir.