XE Market Analysis: North America – Nov 03, 2015

EUR-USD edged lower ahead of Draghi speech. The pairing fell below 1.0975 as Bund yields fell. The ECB president tried to dampen expectations of additional easing at a speech made over the weekend, with markets hoping for some clarification of the policy stance. A holiday in Japan resulted in a quiet overnight session for the yen, though USD-JPY did manage a 120.86 peak. Talk of a Japan supplementary stimulus budget in Japan, along with general beliefs the BoJ will eventually up its QE program, have been supportive.