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Currency Market Analysis

Jan 16, 2018 | Currency Market Analysis

Global Themes

Greenback slips further as euro, yen dominate

The US dollar continued to slip lower overnight as its recent heavy selldown was extended to a fourth day.

The Singapore dollar benefited as the USDSGD fell 0.3% to the lowest level since May 2015.

The USD has been pressured for over a month as strong global data saw investors favour more economically sensitive currencies, such as the Australian and New Zealand dollars.

Recent gains for the euro and Japanese yen have also sapped the USD’s strength.

Euro, yen jump

The big moves in the euro and Japanese dominated other markets.

The euro climbed 0.2% versus the Singapore dollar while the Japanese yen climbed 0.2%.

The Australian and New Zealand dollar were also higher, with both gaining around 0.5%.

EUR, GBP and NZD data

From overseas, German inflation, UK inflation and New Zealand’s dairy prices could drive moves in these major markets.

Tomorrow, local trade data, with non-oil exports due, will be the big release.

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