XE Market Analysis: Asia – Sep 22, 2015

Despite another meltdown in European and North American equities, the dollar was either firmer or near unchanged versus major currencies, European growth concerns and softer EU consumer confidence data sank EUR-USD to under 1.1115, and eyes will be on Draghi’s EU parliament testimony on Wednesday, where a dovish tone is expected to be struck. Cable meanwhile, came under pressure in the aftermath of September CBI industrial trends survey, which unexpectedly dropped to a -7 reading, and government borrowing rose more than expected in August. The pound fell to 1.5340 lows.