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Published: 2025-09-08T10:03:31.000Z

Europe Summary and Highlights 8 September

byAdrian Schmidt

Senior FX Strategist
4

The USD was generally weaker through the European morning, mainly against the JPY and AUD. 

European morning session

The USD was generally weaker through the European morning, mainly against the JPY and AUD. USD/JPY fell from 148.10 to 147.70, while AUD/USD rose above 0.6580 from an open at 0.6565. EUR. GBP, CHF and CAD all gained just around 0.1% against the USD. USD/SEK was little changed, while USD/NOK was 2 figures lower at 10.00.

Data wise, German industrial production was slightly stronger than expected, rising 1.3% m/m, while the Sentix investor confidence index fell back to its lowest since April.

Asia session

Japanese PM Ishiba resigned over the weekend, two days after the memorandum between U.S.-Japan trade is signed. He was facing a potential vote within the party to oust him on Monday but he decided  to resign first. His demise lays in the election failure for the diet, amping up pressure with the party. USD/JPY jumped higher to 148.11 from 147.34 Friday's close and is trading at 148.15 currently, along with falling JGB yields. 

While market participants had their eyes on Japan political changes, the broader risk mood is positive as we see major equity indexes in the green. Nikkei is leading the pack to challenge the historic high with other major equity indexes nimble on gains. AUD/USD is trading 0.05% higher at 0.6559, NZD/USD is trading 0.15% higher at 0.5902 while USD/CAD rises 0.03%. Else, EUR/USD is down 0.02% (gapped a few pips lower) and GBP/USD down 0.07%.

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