North American Summary and Highlights 12 Feb
Overview - The USD advanced against the JPY and slipped against riskier currencies as equities advanced. Equity gains later faded and the riskier currencies corrected, though USD/JPY remained firmer.
North American session
The USD fell back against the riskier currencies through the North American morning, as equities continued to power ahead despite a lack of news though much of this was reversed in the afternoon as equity gains reversed. EUR/USD gained around 15 pips to 1.0785 before correcting, while AUD rising 20 pips to peak above 0.6540, and USD/CAD fell 30 pips to a low of 1.3430. The CHF and particularly the JPY underperformed, with USD/JPY rising half a figure to test 149.50 before finding support at 149.25.
European morning session
The USD moved slightly firmer against the EUR, but was otherwise generally fairly steady through the European morning. The best performers were the scandis, gaining around 0.5% against the EUR, with the SEK slightly outperforming the NOK, but other moves were modest, with USD/JPY and GBP/USD both marginally lower and, EUR/USD only down around 20 pips to 1.0770 after briefly trading up above 1.08 early in the session.
There was no news of any real note, and other markets were also generally quiet, with yields a touch lower and equities marginally firmer.