XE Market Analysis: Europe – Sep 08, 2015

The euro rallied across the board following solid German export and wage numbers. The dollar traded mixed, rising against an underperforming yen while losing ground to the euro. EUR-USD jumped to the 1.1220 area from levels around 1.1150-60. EUR-JPY was a driver, rallying nearly 0.9% to a peak of 133.94. USD-JPY rose over 50 pips, above Monday’s high on route to a peak of 119.17. Germany’s trade balance beat expectations and reached a new record high in August, with exports up 2.4% m/m. German labour costs, meanwhile, leapt 0.9% in Q2 for a 3.1% y/y gain.