XE Market Analysis: Europe – Jul 31, 2015

The dollar has traded moderately softer, though the main pairings have remained well within the respective ranges of yesterday. EUR-USD lifted to a high of 1.0962, and USD-JPY dipped to a low of 123.90. An unexpected dip in German retail sales, which dove 2.3 % in June versus the Reuters median for 0.3% growth, helped put a cap on the euro. BoJ sources cited by Reuters, meanwhile, said that a weak yen is beneficial for the economy, and that the central bank is happy with a declining currency, so long as the pace remains moderate.

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