Safe-haven demand lifted the USD and JPY on Mon due to Israel-Gaza war escalation. Fragile risk sentiment amid increasing global violence.
EBC Forex Snapshot
9 Oct 2023
Safe haven demand pushed the US dollar and Japanese yen higher on Monday as Israel-Gaza conflict erupts into war. Risk sentiment was fragile amid rising global bloodshed.
Market pricing shows a roughly 78% chance that the Fed will keep rates on hold at its Nov’s policy meeting after a strong job report.
Japan will unlikely seek an intervention as recent falls reflect economic fundamentals, former top currency diplomat Naoyuki Shinohara said.
|Citi (as of 3 Oct)||HSBC (as of 9 Oct)|
The green numbers in the table indicate an increase in data, the red numbers indicate a decrease in data, and the black numbers indicate that the data remains unchanged.
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