European FX news roundup: The dollar remains sluggish amid conflicting market sentiment.
Forex market news from the European trade session on September 15, 2021
It was a mixed day in European morning trade today, with regional indices looking more sluggish and US futures remaining more stable after yesterday’s drop.
On the whole, the dollar is weaker, but most of that is due to a nudge lower in USD/JPY, which has dropped to four-week lows ranging from 109.60 to 109.25.
However, the pair has remained within its range since mid-July, ranging between 109.00 and 110.60-70, with Treasury yields following suit for the time being.
Meanwhile, the euro is marginally higher against the dollar but is stuck around 1.1815-30, while the pound climbed somewhat after stronger-than-expected UK inflation figures before retreating slightly during the session.
GBP/USD rose from 1.3815 to 1.3840 before settling around 1.3820.
Elsewhere, oil has been a decent mover so far on the day, with WTI extending weekly gains to $71.60, its best level since 3 August.
The current flow of economic data, on the other hand, only adds to ambiguity and confusion, and isn’t a catalyst for volatility or the creation of new patterns in the currency market.
UK August CPI +3.2% vs +2.9% y/y expected
Markets News :
- JPY leads, AUD and NZD lag on the day
- European equities mostly lower; S&P 500 futures up 0.1%
- US 10-year yields down 0.7 bps to 1.272%
- Gold down 0.2% to $1,801.10
- WTI up 1.3% to $71.37
- Bitcoin up 1.3% to $47,430