North American Summary and Highlights 12 Sep
Overview - After a day of subdued trading, the USD was little changed.
North American session
The USD saw some early gains assisted by UST yields, but the session's only significant data release, a fall in September’s preliminary Michigan CSI to 55.4 from 58.2, was weaker than expected, helping to move the USD off its highs. USD/JPY slipped back to near 147.50 after a brief rise above 148. Elsewhere the USD was little changed to marginally weaker. EUR/USD ended in the upper half of a 1.17 to 1.1750 range, but the high was seen in the European morning.
European morning session
The USD saw some early slippage, which was more than fully reversed, and then returned to mostly near opening levels. USD/JPY did however advance to near 148 from 147.50. July UK GDP was as expected at unchanged, though industrial production was weaker than expected with a 0.9% decline.