XE Market Analysis: North America – Sep 21, 2020

The dollar and yen rallied, the latter especially so amid safe haven demand as global stock markets and commodity prices turned sharply lower, which in the case of the greenback countervailed concerns about the approaching U.S. election and lower-for-longer Fed policy regime. EUR-USD dove to a four-day low at 1.1780, after pegging a five-day high during the pre-Europe session in Asian markets, at 1.1873. USD-JPY dropped 0.5% in pegging a six-week low at 104.00, racking up today as the sixth straight trading day of declines and making this week the third consecutive week of decline.