|02:45 EDT||FX Update: USD-JPY and EUR-USD remained with Thr's ranges |
FX Update: USD-JPY and EUR-USD remained with Thr's ranges while Cable managed to nudge lower to a two-day low of 1.5624. USD-JPY had a slight upside creep, recovering back above 120.00, though the market lacked the muster for a test of yesterday's 120.25 high. Expectations that Abe will win next week's election, which would give yen-negative "Abenomics" policies a fresh mandate, are weighting on the yen. EUR-USD posted a narrow range in the mid-to-upper 1.23s, remaining well off yesterday's post-ECB's high at 1.2456 with the market factoring risk of a strong U.S. payrolls today. ECB boss Draghi failed to give a clear commitment to QE yesterday, but he nonetheless left the door wide open for such a move, and analysts remain bearish of EUR-USD in the bigger picture. AUD-USD settled to a consolidation in the upper 0.83s, holding above yesterday's four-year low at 0.8355.