Daily Market Update

Currency Markets are Open! Dollar Flat, However

March 30, 2018

Currency markets are indeed open today, despite many closings across the globe for Good Friday. U.S. equity markets are closed today as well.

USD

The greenback fell slightly overnight on light trading with the Bloomberg Spot Dollar Index falling 0.1% overnight.

There is no economic data slated for release today. Expect light trading and tight ranges on low volumes and depressed liquidity.

Overall, the dollar is headed for its fifth quarterly decline, its longest losing run in 10 years.

 

EUR

The Euro bumped slightly higher against the U.S. dollar overnight as European markets are closed for the Christian holiday. Do not expect too much movement today. Bloomberg News points out that since circulation, the common currency has traded within an average of 0.2% on Good Friday.

 

JPY

The Japanese yen has had a volatile week after trading to its strongest level against the U.S. dollar in almost a year and a half. The yen is set for its best quarter since mid-2016, boosted by speculation over the ending of Japan’s stimulus policies. The safe-haven has also benefited from a selloff in global equities.

 

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