Three days for nothing on the foreign exchange market, if the $-Index is anything to go by, eroding by -0.2% to 102.40… and returning to its levels of last Friday, or of December 20.
The spreads observed on the FOREX remain mostly symbolic, except for the Yen (see below), and yet the news was not as ‘neutral’ as the day before.
In France, for example, the change of government has left Forex traders unmoved; perhaps they’ll feel more inspired when they see the list of ministers tomorrow or Friday… but it will be harder to read, given the publication of the US CPI.
The FOREX also failed to react to the French manufacturing industry’s production figures: production rose slightly in November by +0.3% after +0.2% in October, and rebounded in industry as a whole (+0.5% after -0.3%), according to Insee’s CVS-CJO data.
The euro nonetheless ended the day up 0.28% against the greenback at 1.0960, while sterling gained 0.2%.
The Swiss franc, on the other hand, lost -0.05% against the dollar.
It’s the $/Yen parity that will be the focus of attention, with the Japanese currency plunging -0.85% to $145.75: a drop that literally euphorized the Tokyo Stock Exchange this morning (+2% and a ‘high’ for 33 years and 10 months), which believes it will benefit from a weaker Yen.
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