XE Market Analysis: North America – May 17, 2018

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EUR-USD turned back under 1.1800 after rebound gains stalled at 1.1837. The political evolutions in Italy have continued to see Italian yields rise, and with them other peripheral Eurozone sovereign yields while safe-haven demand for German paper has suppressed Bund yields, which in turn has been weighing on the euro. USD-JPY printed a new 13-week high at 110.74, extending the upside run higher that’s been unfolding since late March. The fresh gain also builds a breach head above the 200-day moving average (presently situated at 110.18) that was breached earlier in the week.