EUR strongest and USD the weakest getting closer to Asia-Pac

Monday’s Asia-Pac started out very slow and boring as usual, but seems like some volatility has been reintroduced across major asset classes.

Looking at FX, the EUR had a decent day, with the GBP in second place. The three safe havens (USD, CHF and JPY) were the clear laggards, which was interesting despite the risk off mood portrayed in US equities and the upside in treasuries.

Worth keeping in mind it’s month-end this week, and to make things more interesting it’s quarter-end as well, so the odds of some punchier than usual rebalancing is something that could give us some price distortions this week. Worth keeping that in mind.

This article was written by Arno V Venter at www.forexlive.com.