Published: 2025-11-04T20:52:37.000Z
North American Summary and Highlights 4 Nov
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Overview - Weak equities meant risk off trade with GBP particularly weak on fiscal policy concerns.
European and North American sessions
With equities weaker on banking sector and Fed policy worries markets showed a risk off tone with the USD mostly stronger. USD/JPY, after falling in Asia, saw a modest correction higher to 153.65 after slipping below 153.50. EUR/USD slipped to 1.1480 from 1.1520. EUR/GBP was stronger with UK Chancellor Reeves hinting at the need to raise taxes, rising to .8820 from .8780 as GBP/USD fell almost a big figure to 1.3020. EUR/CHF recovered from a dip below .83 as USD/CHF rose above .81 from below .8080. USD/CAD reached 1.41 from 1.4060 while AUD/USD slipped to near .6480 from .6520.