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Published: 2024-03-13T19:50:44.000Z

North American Summary and Highlights 13 Mar

byDave Sloan

Senior Economist , North America
2

Overview - The USD saw modest losses in a generally quiet day.  

North American session

The USD was generally weaker through the North American session, though a late recovery saw he USD close with only marginal losses. 

There was no significant data but a healthy 30 year auction saw yields briefly drop and the USD saw a noticeable dip in response, USD/JPY briefly touching below 147.50 before correcting while EUR/USD saw a high of 1.0964, slightly outperforming GBP/USD, which saw little change.  A 30 pip dip in USD/CAD to 1.3640 came earlier, with oil firmer, and CAD held its gains better than JPY or EUR.

European morning session

The USD was generally fairly steady through the European morning, but gained around 30 pips against the JPY as equities edged slightly higher. USD/JPY touched 148, while EUR/USD was steady near 1.0930. EUR/SEK gained a couple of figures to 11.20, but otherwise there was little FX movement.

UK GDP data for January came in in line with expectations, rising 0.2% m/m following a 0.1% decline in December, but the 3m/3m rate was still negative at -0.1%, and the underlying trend remains at best flat. EUR/GBP was unchanged on the data but edged up around 5 pips to 0.8545 by the end of the morning. 

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Topics
FX Highlights
Foreign Exchange
American Close

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