The U.S dollar pared losses to finish marginally higher in the DXY (close 92.24 from 92.20) after markets shrugged North Korea’s latest missile launch. Earlier Tuesday, the DXY dived to fresh cycle lows of 91.62 after North Korea fired a ballistic missile that flew over Japan mainland and fell into the Pacific Ocean. However, it is probably due to a relatively contained response from the Trump’s administration that sparked a rebound in risk appetite, and hence the USD. With the dramatic intraday turnabout, a doji reversal in DXY is formed which may suggest further near term gains in the greenback.    EUR/USD had a volatile session - took out the key 1.20 level in Asia afternoon, went as high as 1.2070 before round-tripping to 1.1972 by NY close. Whilst markets’ anticipation for ECB meeting next week (7-Sept) remain elevated, we think the September meeting does seems a little early for a tapering announcement. The central bank could use that meeting though to announce the committees tasked while waiting for the German elections later that month (24-Sept) to draw to a close. A more apt timing could be in the 26-Oct or 14-Dec meetings. In all, expect enthusiasm in the euro to falter further. There should exists a better opportunity to buy EUR/USD on dips, at 1.17 - 1.18 thereabouts.

声明：如本站内容不慎侵犯了您的权益，请联系邮箱：wangshiyuan@epins.cn 我们将迅速删除。