XE Market Analysis: North America – Jul 23, 2018

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The Dollar recovered losses seen in the Asian session against most currencies, and was settled near net unchanged levels against the Euro, Pound, Dollar bloc, among others, as of the early European PM session. The main exception was USD-JPY, which was driven lower by outperformance of the Japanese currency, and which was concomitant with a rise in JGB yields after a report by Reuters that the BoJ is in “preliminary” discussions to tweak its stimulus program to make it more sustainable. USD-JPY dipped to a two-day low of 110.75, marking today as the fourth consecutive down session.