XE Market Analysis: North America – Jan 31, 2018

Comments are off

The dollar rebounded during the London AM session after coming under pressure during in Asia, with the looming Fed announcement serving to inspire position trimming, quelling trend following. The USD index (DXY) recovered to 88.98 after logging a three-session low at 88.82. The index was still showing a net 0.3% decline on the day. EUR-USD has settled under 1.2450 after a couple of London morning forays above 1.2460 stalled, capping a rally from sub-1.2400 levels. The pair has remained comfortably below the 37-month peak posted last week at 1.2537.