ForexLive European FX news wrap: Dollar steady in quiet trading



  • AUD leads, JPY lags on the day
  • European markets closed; S&P 500 futures down 0.1%
  • US 10-year yields up 3 bps to 3.481%
  • Gold down 0.1% to $1,988.20
  • WTI crude down 2.2% to $75.09
  • Bitcoin down 2.6% to $28,578

It was a quiet session for the most part with European markets out for the long weekend amid the Labour Day holiday.

The dollar was steady throughout, with sentiment helped slightly by the news that JP Morgan is set to take over First Republic Bank. That could lead to some follow through moves later in US trading, so just be mindful of that.

The yen is the laggard as it continues to deepen losses from last week, with USD/JPY touching its 200-day moving average just below the 137.00 mark.

Besides that, things were largely slow-moving as market players are waiting to get the week started in Wall Street. The focus in the days ahead will center around key central bank policy decisions and that will set the tone for what to expect in May trading.

This article was written by Justin Low at

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