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EUR/USD2014-10-31 09:58 UTC

EUR-USD ground out a fresh three-week low at 1.2541 after breaching yesterday's 1.2546 low. Yesterday's above-forecast advance Q3 GDP figure out of the U.S. and the slightly hawkish tone of Wednesday's Fed statement have ensured that the dollar was the long vehicle of choice for yen sellers on Friday following the BoJ's shock easing announcement. The dollar's yield advantage over the euro has jumped to over 148 bp at the 10-year benchmark ... Read More 

XE Market Analysis

  • North American Edition2014-10-31 09:58 UTC

    The yen dove sharply on the shock BoJ easing, which saw USD-JPY spike to a six-year peak at 111.67, as of the time of writing, well up on yesterday's 108.90 London closing level. EUR-JPY rallied by over two big figures to a five-week high near 140, and other yen crosses saw a similar price action. The BoJ announcement of an expansion in QQE (quantitative and qualitative easing), by a vote of 5-4, came as a complete shock to markets. Aside from causing the ... Read More 

  • European Edition2014-10-31 07:32 UTC

    The yen dove sharply on the shock BoJ easing, which saw USD-JPY spike a six-year peak of 111.19, well up on yesterday's 108.90 London closing level. EUR-JPY rallied by around two big figures to a five-week high at 139.76, and other yen crosses saw a similar price action. The BoJ announcement of an expansion in QQE (quantitative and qualitative easing), by a vote of 5-4, came as a complete shock to markets. Aside from causing the dive in the yen, the ... Read More 

  • Asian Edition2014-10-30 18:21 UTC

    The dollar rallied momentarily after the better U.S. Q3 GDP report, though quickly lost ground from there, as profit taking set in. The greenback's post-FOMC rally on Wednesday ran its course, as the market took advantage of the early rally to sell into. EUR-USD slipped to nearly one-month lows under 1.2950 on the data, before rallying to 1.2630 highs. USD-JPY meanwhile, touched 109.36 highs, though quickly edged back under 109, to hit 108.80 lows. Read More 

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