XE Market Analysis: North America – Nov 16, 2015

Currency markets have been relatively steady after a bout of choppiness in early Asia-Pacific trade, with the euro having recovered early losses, and the yen having more than given back early-session advances. The yen’s rally had been driven by a move into the currency’s perceived safe haven attributes as markets initially reacted to the Paris attacks. This soon reversed, however, and USD-JPY is now at intraday highs just above 123.0, well up from the intraday low at 122.22 and some 25 pips above Friday’s New York closing level. EUR-JPY has seen a similar turnaround.