ForexLive Americas FX news wrap: Yen finishes with flourish

ForexLive Americas FX news wrap: Yen finishes with flourish


  • Gold up $10 to $1344
  • WTI crude up 23-cents to $67.29
  • S&P 500 down 8 points to 2656
  • US 10-year yields down 1.5 bps to 2.82%
  • AUD leads, NZD lags

The US dollar and yen were both stronger to wrap up the week, with the commodity currencies particularly soft at the end.

USD/JPY peaked at 107.75 early in US trading but tracked down to 107.35 at the end of the day as a broad yen bid took hold. Ultimately, the pair was flat on the day.

Broader sentiment was upbeat early after good earnings from US financials but that sentiment reversed shortly after the stock market open. You get the sense the market was de-risking ahead of a weekend where bombs could fly in Syria.

The U Mich report was soft but the market took it in stride. Earlier in the day the bigger mover might have been Rosengren and his hawkish comments. The market is increasingly worried about hikes and 2-year yields touched the highest since 2008 before risk aversion kicked in.

Cable made a couple tests of 1.4300 in Asia/Europe but backed off to finish the week at 1.4240 in an overall flat day.

Surveying the entire FX market, it was a day with some twists and turns but virtually everything finished flat on the day.

Have a fantastic weekend.

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