North American Summary and Highlights 22 Sep
Overview - In a subdued session with limited news the USD was mostly weaker.
North American session
The USD continued to see modest losses in subdued North American trading. There was no significant data and no clear reason for the USD slippage, with UST yields slightly higher. Fed’s Miran was dovish but Bostic, Musalem and Hammack were all cautious about further easing.
EUR/USD reached 1.18 from 1.1780 and USD/JPY slipped to 147.70 from 147.90. EUR/GBP advanced to .8730 from .8720. AUD/USD reversed an early dip to reach 0.66. USD/CAD was however slightly firmer near 1.3825 after an early dip below 1.38 as AUD/CAD rose to .9120 from .91.
European morning session
The USD traded mostly lower through the European morning, with EUR/USD gaining 35 pips and USD/JPY losing 35 pips. GBP also made ground against the USD but EUR/GBP edged up 10 pips to 0.8720. AUD/USD was only marginally firmer at 0.6595, while USD/CAD gained 10 pips to 1.3808. The EUR also gained slightly against the CHF and NOK, but was unchanged against the SEK.
There was no data or news of any significance and equity indices and yields were both marginally lower.