ForexLive European morning FX news wrap: Yen sellers back in force as risk returns

Author: Mike Paterson | Category: News

Forex news for European trading on May 18 2017



Another busy session but one that had a common theme of risk sentiment returning .

The subsequent yen selling underpinned core pairs and sent them rallying in determined fashion with once again GBPJPY a prime mover up to 145.34

A combination of reduced US political risk, rallying oil and equities all combined to give a feel-good feeling to the currency markets.

GBPUSD has enjoyed the ride back up to 1.3019 from 1.2953 before running into more offers but has held 1.3000 since and EURUSD has now posted 1.1170 from 1.1110. EURGBP finding dip demand again and EURJPY rallying to 124.65

CADJPY was another prime mover as oil prices rallied and USDCAD posted new recent lows of 1.3566 with WTI rising to $50.40 and Brent $53.14

AUDUSD had a sharp spike and return between 0.7440-70 but has mostly been well contained as has NZDUSD.

Canadian retail sales  and CPI data at 12.30GMT might have some impact and we have FOMC's boring Bullard speaking at 13.15 GMT