Published: 2025-09-02T10:12:44.000Z
Psychology for major markets Sep 2
Director of Research , Macroeconomics and Strategy
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Ranges continue to dominate, but JPY weak
EUR/USD – EUR/USD back in the mid 1.16s after failing a test of 1.17 with USD generally firmer. Breakout of the 1.16-1.17 range remains hard to sustain.
USD/JPY – USD/JPY climbing to 148.80, its highest since August 1st, on a general USD rally supported by higher US yields. But longer term correlations still suggest upside very limited.
EUR/GBP – Pushing higher as concerns about UK public finances continue to undermine GBP confidence, but 0.87 remains hard to break.
AUD/USD – 0.64-0.66 range remains hard to break.
Equities – S&P slipping as yields rise. Legal challenge to tariffs creates uncertainty.