Europe Summary and Highlights 28 October

European morning session

The USD was generally lower through the European morning, particularly against the JPY, with USD/JPY dropping nearly a big figure to 152.50, reversing the gains seen in Asia though stopping just short of closing the opening gap at 152.36. EUR/USD also gained 25 pips to 1.0820 in what as generally a quiet session for news. The USD was generally a touch softer across the board, mostly in line with the EUR move, but the exception was the NOK, with EUR/NOK gaining 3 figures to 11.90.

Asia Session

USD/JPY spiked higher at the open on the news that the ruling coalition had lost its parliamentary majority at the weekend election, reaching a high of 153.88, a rise of a figure and a half from Friday’s NY close.