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Overview
FX markets saw the USD-index (-0.21%) fail to hold onto its gains above the 90.00 level, with the level being breached to the upside yesterday for the first time since 2006, following the strong US GDP release. Elsewhere, overnight gains in JPY have been largely pared throughout the European session with nothing fundamental at play. Separately, price action in FX markets have been especially muted as expected with volumes exceedingly thin and major pairs trading in a particularly tight range. Looking ahead, we have some tier 1 data releases, with highlights including Initial Jobless Claims, DoE Crude Inventories, EIA NatGas Storage Change, Bank of Japan Minutes for the November meeting and a US 7y Note Auction.
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