Published: 2025-09-04T10:09:52.000Z
Psychology for major markets Sep 4
Director of Research , Macroeconomics and Strategy
2
Ranges continue to dominate, but JPY weak
EUR/USD – EUR/USD steady in the mid-1.16s after failing a test of 1.17. Breakout of the 1.16-1.17 range remains hard to sustain.
USD/JPY – USD/JPY climbed 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 slipped as yields rose, but has recovered and remains close to the highs. Focus on upcoming US employment data.