USD mostly unchanged against the rest of the major currencies
It's been a relatively quiet day in FX trading so far. Even news of China reporting that yesterday's recommended curtailing of US Treasuries purchases are based on wrong information have done little to move the market - though the dollar has pared some if not most of its losses already from yesterday's news.
The AUD is the leader on the bloc following a beat in retail sales data - on the back of stronger iPhone X sales (say what?). Meanwhile, the JPY surrendered some of yesterday's impressive gains - though it remains the strongest currency by quite some margin in this week's trading.
Here's a snapshot on how the major bloc has performed so far this week:
Short CAD/JPY has been the best trade so far this week - as the pair closed in on the 2017 highs last Friday after the stellar Canadian jobs report, only to free fall in this week's trading.
Yesterday's JPY strength saw the pair hit lows near the 61.8 retracement level on the daily chart, and it's finding a bit of support there as the pair rebounds back above 89.00 tin today's trading, but is closing in on the 100-day MA @ 89.16 - where buyers may face some resistance here.
