The Euro (EUR) is quietly consolidating in a tight range and entering Monday’s NA session unchanged from Friday’s close, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The EUR/JPY cross rises to near 173.55 during the early European trading hours on Monday. The Japanese Yen (JPY) weakens against the Euro (EUR) following news that Japanese Prime Minister Shigeru Ishiba had resigned.
The USD/CHF extended its losses on Friday, tumbling below the 50-day Simple Moving Average (SMA) at 0.8020. The release of a worse than expected US Nonfarm Payrolls report, cemented the case for a Fed rate cut at the September meeting. At the time of writing, the pair trades at 0.7980, down 0.94%.