ForexLive European FX news wrap: Dollar steadies alongside risk mood, ECB up next

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Markets:

  • AUD leads, GBP lags on the day
  • European equities higher; S&P 500 futures up 0.1%
  • US 10-year yields up 4.3 bps to 4.188%
  • Gold up 0.2% to $2,463.58
  • WTI crude down 0.1% to $82.74
  • Bitcoin up 0.2% to $64,687

It was a much quieter session as markets calmed down following all the action yesterday.

In FX, the Japanese yen nudged lower as BOJ data suggested no evidence of intervention yesterday. USD/JPY had already risen from a low of 155.36 in Asia to around 156.00-30 before pushing to around 156.45 now.

Meanwhile, the pound is also a touch softer as GBP/USD continues to stay under the 1.3000 mark. That despite the UK labour market report showing indications that wage pressures remain on the high side for the BOE.

Besides that, there is very little action elsewhere in the FX space with other major currencies not doing much.

That owes much to the calmer mood in equities today as well. US futures are steadier following the selloff in tech shares yesterday. But it is still early in the day, and we could see the overall mood switch up again – one way or another – later in US trading.

For now, it’s on to the ECB policy decision next. But that shouldn’t be one to get traders off their seats, given that the central bank is to keep rates unchanged and defer thing to the September meeting instead.

This article was written by Justin Low at www.forexlive.com.

Go to Forexlive

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