FX Close
USD issued a mixed performance today with the USD Index gaining 0.1%, led higher by a 0.7% increase in USD/CAD to 1.0181. USD/JPY, down 0.1% to 106.06, is lower for a 5th consecutive day — but is set to close well off its intraday low, which may indicate a near-term reversal. USD/CHF, up 0.12% to 1.0195, is set to finish higher for the first time in 3 days.
Fed fund futures saw little interest on the day and still factor in a 75% chance the Fed will hold the line on rate in August.
Cable is set to finish the day marginally lower at 1.9937, however is well off its intraday low at just under 1.99. Cable may be in for a near-term run at its 200-day moving average (1.9989).
EUR/USD, down 0.27% to 1.5750, remained in negative territory for most of the day despite hawkish comments from a rash of EU officials and a higher-than-expected June Eurozone y-o-y CPI estimate (4%). EUR/GBP fell 0.15% to 0.7905, GBP/JPY fell 0.2% to 211.37 and EUR/JPY fell 0.3% to 167.08.