FX Market Update ‐ Into the NA open, the USD is generally flat havinggained or loss only +/‐0.15% against all the primary currencies; howeverseveral currencies have reached fresh highs including EUR, GBP, KRWand CNY, while JPY drops to a fresh low suggesting there is more goingon than just the daily return suggests and that the Asian trading block isgrowing increasingly complicated. Also interesting is that equities areflirting with their recent highs, US 10 year yields are off their highs at2.82% and volatility measures have dropped again. On a month to datebasis in FX markets, there is no clear broad USD shift; as NZD, EUR, GBPand CHF are all strong; but CAD, JPY and AUD are flat to weak. Today there are only second tier data releases and no fed speakers.
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Scotiabank