ForexLive European FX news wrap: Yen demand notable again as trade continues to grab the spotlight

Author: Mike Paterson | Category: News

Forex and Bitcoin news from the European morning trading7 Mar 2018

News:
Data;
A busy session in terms of rhetoric but not extensive fx moves. Plenty of option expiry interest too helping to contain range.

USDJPY had fallen in Asia to test the 105.50 option expiry support but has held since, albeit struggling to get back over 105.80. Yen demand prevailing overall still as the trade war scenario continues to play out.

EURUSD has continued its journey higher to posy recent highs of 1.2447 before running into sellers helped by EURJPY supply  and we've seen a test of 1.2400.

GBPUSD has been capped by GBPJPY supply and EURGBP demand again and we've seen lows of 1.3846 before finding option related support. GBPJPY lows of 146.23 with EURGBP highs of 0.8968.

USDCHF has held 0.9360 and remains underpinned with SNB in the frame as EURCHF advances further to post 1.1681

USDCAD has been flat-lined around 1.2925 as we wait on BOC as has AUDUSD between 0.7800-20

Bitcoin has continued its recent retreat to test $10400 again from $10800
Gold has drifted lower to $1330 from $1335 while oil has drifted higher with WTI posting $62.20 from $61.80

 Data and BOC coming up:

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