XE Market Analysis: Europe – Jun 23, 2021

The dollar sank back after rising moderately during the early part of the Asia-Pacific session. Other currencies showed some independent movement. The yen, for instance, weakened, which aided USD-JPY to a three-month high at 110.92 — 6 pips of 15-month high territory. At the same time, EUR-JPY posted a six-day high at 132.32, while the likes of GBP-JPY, AUD-JPY and CAD-JPY also saw six-day highs. Buoyancy in global stock markets, which saw the NASDAQ hit a new record high yesterday, has be suppressing the yen in accordance with the long standing inverse correlation.

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