ForexLive morning news wrap: It's not looking good for the greenback

Author: Mike Paterson | Category: News

Forex news for the European morning trading session 8 Sept 2017



It's been a session that overall has seen a steady retreat again for the US dollar after an initial pause for breath. Sad news of deaths in the largest earthquake around Mexico and surrounding countries for over a century, plus the on-going devastation caused by hurricanes in the US and Caribbean.

USDJPY failed to make any rally of note to start the session and was a trend setter again falling from 108.20 to 10-month lows of 107.36 but USDCHF was less inclined to follow having already been down to 0.9420, lows not seen since August 2015. The subsequent rally though (SNB? just saying) to 0.9480 was sold into and retreated to 009460 as I type.


EURGBP had an early look at 0.9200 but failed again and its steady retreat to 0.9127 has helped lift GBPUSD to 5-week highs of 1.3218.

USDCAD found support into 1.2060 and has since rallied back above 1.2100 while AUDUSD held 0.8080 after its early retreat from 0.8126 and has since been back up to 0.8114.

US and Canadian data  on the slate plus Fed's Harker up to the mic.

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