XE Market Analysis: Europe – Aug 31, 2015

Markets have commenced on a risk-off theme as Chinese stock markets ebb following a Beijing announcement that large-scale purchases to prop up the market are now a thing of the past. This weighed on regional equities, Asian and commodity currencies. The dollar traded mixed, trading moderately firmer against the dollar-bloc units and Asian currencies, while losing ground to the haven currencies of the euro and yen. EUR-USD rose to the mid-1.12s, recovering from Friday’s foray below 1.1200. USD-JPY ebbed back to the 121.00 area, down from one-week highs at 121.75.

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