XE Market Analysis: North America – Oct 20, 2015

The euro rebounded after the latest ECB credit conditions survey highlighted the effectiveness of already-implemented QE measures, which boosted Bund yields on the view that this will reduce the odds for a further expansion in monetary stimulus. EUR-USD clocked a peak of 1.1385, which was a gain of nearly 60 pips from yesterday’s low, eclipsing Monday’s peak at 1.1375 on route. USD-JPY, meanwhile, broke higher in early London trade, reportedly triggering several rounds of stop-buy orders above 119.60-65. The high so far has been 119.77, which is the loftiest mark in six days.