ASIA-PAC FX UPDATE: DXY claws back PPI-induced losses on geopolitical premia

Analysis details (01:54)

DXY is on a firmer footing intraday and remains above the 106.50 level after printing a 107.11-105.30 range yesterday, with an added bid seen in late US hours on the pack of geopolitical jitters as a Russian-made missile landed in NATO territory. EUR/USD is modestly softer in a tight range on either side of 1.0350, with GBP/USD in a similarly contained parameter on either side of 1.1850. EUR/PLN meanwhile shot higher and continued trending upwards amid the explosion in the Polish village near the Ukrainian border, with a Russian-made missile said to be the cause.  Antipodeans are softer amid the risk-off mood, but AUD/USD remains above its 100 DMA (0.6997) and NZD/USD remains around 0.6150. USD/JPY is modestly firmer amid the firmer Dollar, with the pair around 139.50 ahead of yesterday’s 140.67 high and the 100 DMA at 140.87.

16 Nov 2022 - 01:53- Research Sheet- Source: Newsquawk