XE Market Analysis: North America – Nov 09, 2020

The dollar posted fresh lows, continuing last week’s theme as global stock markets and commodity prices surged. EUR-USD posted an eight-week high at 1.1899, while the DXY dollar index concurrently printed new two-month low at 92.13. Sharp weakness in the Japanese currency saw USD-JPY buck the dollar weakening theme. The pair rose by over 0.5% in climbing back above 103.80. Last week’s eight-month low at 103.17 was left unchallenged, with the yen returning to form as an inverse correlate of risk appetite in global markets.