Forexlive Americas FX news wrap: The yen rebound continues as the US dollar sags | Forexlive


Gold down $1 to $1980WTI crude oil up $2.90 to $75.80US 10-year yields down 1 bps to 4.44%S&P 500 flatJPY leads, USD lags

The FX and energy markets were the lively spots on Friday as bonds and equities started the weekend early.

The US dollar continued to slide as the market firms up the belief that the Fed is done hiking and the economic data will begin to turn south. The euro was steadily bid and climbed above 1.09 for the first time since late August and finished near the highs.

Cable was strong as well as it rose to 1.2460 from 1.2375 at the start of European trading. The dollar found some bids into the London fix but quickly gave it back.

The Fed’s Collins had an opportunity to push back against market pricing but only offered up token resistance to the ‘no hikes’ narrative. The bond market chopped around and ultimately front end yields finished a tad higher with the long end down.

USD/JPY did most of its work in Asia and Europe as it fell to 149.30. It bounced slightly in North American trade but still finished the day down 110 pips.

The antipodeas all made up some ground in erasing yesterday’s losses. They were helped along by a rebound in oil.

This article was originally published by a . Read the Original article here. .