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Check out the brand new DailyFX trading forecasts for Q3

MARKET DEVELOPMENT – USD ADVANCES ON HAWKISH EVENS, 10 YR YIELD RETURNS TO 3%

USD: The USD had broadly been on the back foot for much of the European morning. However, the DXY reversed course after a relatively hawkish speech by Fed’s Evans, who is typically a more dovish member. The rate setter stated that Fed Fund rate projections for 2019 and 2020 are mildly restrictive, given that the unemployment rate forecast is below the natural rate. Consequently, the USD tracked US yields higher with the 10yr eying 3% yet again.

AUD: The rise in the Australian Dollar stalled around the 0.7200 handle with 1.6bln worth of option expiries capping price action, coupled with the reprieve seen in the USD index. Trade wars continues to plague the Aussie and with the currency below 0.7300, the trend remains tilted to the downside.

JPY: Consolidation persists for USDJPY with the pair trading within a relatively tight range. Further upside in the pair has been curbed at the 112 figure, while offers reported 112.20, suggest that buying in the pair could be somewhat limited for now.

DailyFX Economic Calendar: Friday, September 14, 2018 – North American Releases

USD Bid on Hawkish Evans, US 10yr Yield Returns to 3% - US Market Open

DailyFX Webinar Calendar: Friday, September 14, 2018

USD Bid on Hawkish Evans, US 10yr Yield Returns to 3% - US Market Open

IG Client Sentiment Index: USDJPY Chart of the Day

USD Bid on Hawkish Evans, US 10yr Yield Returns to 3% - US Market Open

Five Things Traders are Reading

  1. DXY Index at Critical Juncture Following BOE, ECB MeetingsbyChristopher Vecchio, CFA, Sr. Currency Strategist
  2. Nikkei 225 Eyes Bullish Breakout, US Equities Point to Fresh Record | Webinar" by Justin McQueen, Market Analyst
  3. USD-Focused Charts for Next Week – EUR/USD, USD/CAD, Gold Price & Moreby Paul Robinson, Market Analyst
  4. CAD Bulls Long for NAFTA Deal” by Justin McQueen, Market Analyst
  5. Gold Price Analysis: Resistance Remains Firmly in Place” by Nick Cawley, Market Analyst

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX