XE Market Analysis: Asia – Sep 11, 2015
The dollar rallied marginally after a hotter August core PPI print, though largely turned south from there. A much weaker Michigan sentiment print (one year low) undermined sentiment to a degree, though with the FOMC meeting looming next week, and odds somewhat reduced for a Fed rat lift-off, it appeared general paring of long USD positions was the pre-weekend driver from there. EUR-USD started near 1.280, and eventually peaked just shy of 1.1350. USD-JPY faded from over 120.75, though ultimately found support into 120.50, as renewed expectations for BoJ stimulus limited downside.