EUR HOLDS ITS OWN
• USD is mixed as markets attempt to adjust to this week’s developments. We detail below our take-aways from the Fed this week.
• CAD is weak following broader commodity currencies. BoC next week.
• EUR rallies on strong German IFO & LTRO repayment.
• GBP is up following EUR; BoE Fisher suggests a rate cut to do little.
• SEK is flat as weak consumer confidence leads to rising speculation
that the Riksbank could lower rates below 1.0%.
• CHF is strong, up 0.8%, suggesting it still plays a role as safe haven.
• JPY rallies 0.8% as volatility in Nikkei and JGB continues.
• AUD is weak reacting to fears over global growth & Fed expectations.
Click here to read the full report: FX Daily
Scotiabank