Published: 2023-12-11T20:14:03.000Z
North American Summary and Highlights 11 Dec
Senior Economist , North America
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Overview
Markets were subdued other than a dip in the JPY on a Bloomberg report.
North American session
The USD was a little firmer early in the North American session, though slipped back in the afternoon leaving the USD little changed. EUR/USD dropped below 1.0750 before correcting to near 1.0760, and USD/JPY saw highs above 146.50 while holding above 146. GBP/USD moved in line with EUR/USD, but the commodity currencies were little changed. EUR/CHF fell 30 pips to 0.9450.
European morning session
USD/JPY gained a big figure through the European morning, rising on the back of a Bloomberg report indicating that the BoJ would not hike rates at the December meeting. Otherwise, activity was fairly subdued, but EUR/USD edged marginally higher, and GBP/USD made more substantial gains, rising around 30 pips to 1.2570. EUR/NOK gained around 3 figures to 11.78 after Norwegian November CPI came in a little weaker than expected at 4.8% y/y, 5.8% core.