Euro and Yen Weakness Stands Out

23 окт. 2024 г.

We continue to see broad-based demand for the US dollar, though it's clear that most of the dollar strength of late has been against the Euro and the Yen. A new report has been making headlines, discussing a growing group of ECB members who think the central bank has fallen behind the curve on monetary easing.

We've also been hearing plenty of dovish talk from a number of ECB officials. Meanwhile, in Japan, the Yen has been accelerating to the downside, partially due to this dollar demand and partially because of uncertainty heading into the weekend election in Japan.

Looking ahead, we have the Bank of Canada policy decision, ECB President Lagarde's speech, Eurozone consumer confidence readings, existing home sales, Fed speak, and the Fed Beige Book.

Exclusive FX research from LMAX Group Market Strategist, Joel Kruger