XE Market Analysis: North America – Sep 10, 2015

FX trade was somewhat convoluted, with the dollar rebounding versus the euro and yen after reversing losses seen in early Asia, but losing ground to sterling and the Aussie dollar, the latter of which was underpinned by a strong Australian employment report. Stock sentiment was negative, with China data today showing producer prices down 5.9% y/y, the sharpest decline since 2009 and the 42nd consecutive month of declines, pointing to weak factory demand. The yen traded weaker, despite the weaker equity backdrop.