North American Summary and Highlights 13 January
Overview - The USD was slightly firmer, EUR/USD seeing a dip in Europe and USD/JPY picking up in North America.
North American session
It was mostly a quiet session in North America but USD/JPY picked up to 157.75 after an early dip below 157 as equity losses were erased. EUR/USD was fairly stable near 1.02 though EUR/GBP slipped back below .84, GBP/USD rising to 1.2175 from a low of 1.21. AUD and CAD also saw modest gains.
European morning session
The USD was slightly stronger against the EUR and GBP through the European morning, but little changed elsewhere. EUR/USD dipped to a low of 1.1078 shortly after 09:00 GMT, another new 2 year low, although there was no clear trigger. GBP/USD matched the EUR dip, but both currencies bounced slightly and EUR/USD finished the morning only around 20 pips lower near 1.02.
Most other currencies were net little changed against the USD. EUR/CHF dropped 20 pips on the morning, falling from 0.9370 to 0.9350 after the release of the latest SNB sight deposits data, which showed a CHF6bn rise in sight deposits in the latest week, following a similar sized decline in the previous week.