Monday, 9 May 2016

XE Market Analysis: Asia - May 09, 2016

The FX market was fairly subdued in N.Y. trade on Monday, though overall, the greenback retained a firmer footing. EUR-USD was range bound on either side of 1.1400, while USD-JPY kept the bulk of its gains following Japan's finance minister intervention threats ahead of the open. USD-CAD touched 1.3000 on weaker oil prices, and wildfire related shutting of a good chunk of Canada's oil production. Cable continued it drift lower, touching 1.4397, as Brexit fears and a generally softening U.K. economy continue to weigh on the pound.

[EUR, USD]



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