The usd mixed north american session opened with the dollar rising against the euro, pound, Australian dollar, and New Zealand dollar. However, it fell against the yen, Swiss franc, and Canadian dollar. The move left EURUSD and GBPUSD near their intraday lows.
Yen Move Leads usd mixed north american session
USDJPY first moved down after Japanese Prime Minister Sanae Takaichi commented on the Government Pension Investment Fund. She said her government wants to encourage the GPIF to invest more in domestic financial assets. However, she added that any move must stay in line with its duty to pension beneficiaries.
Traders took the remarks as supportive for the yen. Greater domestic investment could, therefore, reduce money flowing overseas over time. However, officials also said there are no near-term plans to change the GPIF’s strategic asset mix. As a result, the market reaction stayed limited.
Later, USDJPY rebounded. The pair found support at its converged 100-hour and 200-hour moving averages.
EURUSD and GBPUSD Test Key Levels
Meanwhile, EURUSD and GBPUSD started the North American session close to their intraday lows. That price action pointed to a firmer dollar against both currencies. Notably, both pairs were also testing their converged 100-hour and 200-hour moving averages.
A break below those levels would strengthen the bearish bias for both pairs. Moreover, such a move would add to the loss of gains built earlier in the week.
Elsewhere, U.S. equity futures pointed to a weaker open. Dow futures fell by 322 points, S&P 500 futures dropped 75 points, and Nasdaq futures lost 548 points. Treasury yields also moved lower.
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Source: InvestingLive
