It's been a lively session for the FX market as the US Dollar extended the decline amid lack of negative tariffs news, while the JPY continued to rally following the strong Japanese wage data overnight.
In terms of data releases or newsflow, we haven't got much other than the final PMIs and a couple of low tier indicators. There have been some positive news regarding the recent Trump's memorandum on putting "maximum pressure" on Iran which weighed on crude oil prices.
In fact, Iran's foreign minister said that if the main obstacle for the US is nuclear weapons, then it can be resolved. Later, Trump posted on his social that he "wants Iran to be a great and successful country, but one that cannot have a nuclear weapon". He wants a "verified nuclear peace aggrement".
Elsewhere, gold keeps on printing new all-time highs every day as real yields continue to fall. Treasury yields extended the decline since yesterday's weak US Job Openings report with the focus now switching to the US NFP report on Friday which might offer a bounce.
Equities keep a cautious optimism as we continue to wait for updates on a Trump-Xi call. One would have expected more strength given the notable fall in yields and US dollar, but that hasn't been the case.
This article was written by Giuseppe Dellamotta at www.forexlive.com. Read More Details
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