ForexLive European morning news wrap: Villeroy helps out the euro

Author: Adam Button | Category: News

Forex news for European early trade on May 14, 2018

Markets

  • Gold up $1 to $1319
  • WTI crude up 9-cents to $70.79
  • US 10-yaer yields up 1.5 bps to 2.98%
  • UK FTSE 100 down 0.2%
  • GBP leads, NZD lags

The euro is perky in the early going after Villeroy talked about the ECB changing its guidance on when it will hike rates following the end of QE. EUR/USD marched as high as 1.990 from 1.1960 as Europe arrived for the week.

Cable hit a two-day high of 1.3600 at the time of writing. Thursday's high of 1.3616 is in focus as sterling tries to make a bottom after flat trading for a week.

The yen is generally softer and that's helped USD/JPY climb to 109.60 in a steady 30 pip rise since the start of European trading.

The commodity currencies have generally been moving sideways.