Europe Summary and Highlights 11 September
There was little change in most G10 currencies in the European morning, following JPY strength overnight.
European morning session
There was little change in most G10 currencies in the European morning, following JPY strength overnight. USD/JPY edged slightly higher to 141.40, while EUR/USD was little changed at 1.1045. GBP was slightly weaker, with EUR/GBP gaining 10 pips to 0.8440 following weaker than expected July GDP data from the UK. This showed no change n the month against a market consensus of a 0.2% rise.
Otherwise, EUR/CHF gained around 20 pips to recover above 0.9340 after hitting its lowest since August 6 at 0.9307 late in Asia.
Asia Session
BoJ policy board member Junko Nakagawa reinforced the latest hawkish BoJ rhetoric by almost repeating what other BoJ members and Ueda said, "appropriate to adjust monetary policy if economic picture aligns with forecast". It seems to suggest the BoJ is comfortable to hike again either in the coming or next meeting. USD/JPY moved to test yearly low at 141.04 currently, down 0.97% for the session while both the U.S. Treasury and JGB Yields are lower.
Broad risk sentiment is soft as we see major equity indexes mostly in the red, led by the fall with regional equities index HSI. The AUD/USD is dragged lower despite softer USD against majors to trade 3 pips lower at 0.6652, NZD/USD is down 0.13% at 0.6141 while USD/CAD slips 0.06%. Else, EUR/USD is up 0.24% and GBP/USD is up 0.15%.