ForexLive European FX news wrap: Yen sellers help underpin core pairs as risk appetite returns

Author: Mike Paterson | Category: News

Forex and Bitcoin news from the European morning trading 6 Mar 2018

A scrappy session that's seen early yen demand reversed on hopes of a level of peace between US/NK.  Equities have been mostly in positive mode but Bitcoin/cryptos have run into a another round of selling.

In this ever fickle world of forex we've seen the biggest single day drop in DXY since 15 Feb with USDJPY down to 105.85 but then bounce back to 106.47 in rapid fashion on the NK news. That has accelerated rallies elsewhere in core pairs that had previously been climbing gently on  the general USD supply.

EURUSD has large option interest 1.2300 and that lent support around 1.2330 and we've been up to 1.2404 while GBPUSD has also caught a bid and posted 1.3906 from 1.3825 with GBPJPY leading the way to 147.90 from lows of 146.60.

A similar theme across the board with AUDUSD up to 0.7818 from 0.7762 with AUDJPY 83.12 from 82.20. USDCAD failed at 1.3000 again and with CADJPY demand returning has fallen to post 1.2930.

USDCHF has fallen to 0.9380 but still finding some risk-on support with EURCHF up to 1.1632.

Bitcoin failed above $11600 and fallen back through $11000

US Fed's Dudley speaks at 12.30GMT and here's the data to follow in the NA session: