Forex news from the European morning session 16 Oct



It's been a quieter session today but not one without opportunity

The euro has been on the back foot from the off after EURUSD failed to get back above 1.1400 and European equities opened firmer again

We've been down to 1.1334 but EURGBP ran into demand around 0.7345 which then dragged cable down to 1.5443 from 1.5483.

In the meantime USDJPY had edged its way back up to 119.25 from 118.90 and USDCAD journeyed up to 1.2910 from 1.2870 wiping its feet at 1.2900

USDCHF had a look above 0.9555 from 0.9510 but gains were tempered by offers on the EURCHF rally from 1.0800

AUDUSD and NZD both started brightly enough but they too gave in to the USD demand and both have ended up lower at 0.7271 and 0.6784 from 0.7303 and 0.6830

Attention now turns to the US data later to provide some further impetus