From Marc Chandler at Bannockburn Global Forex:
The yen has been pushed to its lowest level in 40 years, and this appears to have helped drag most of the other major currencies lower against the dollar today amid month-end and quarter-end considerations. Japanese officials did not appear to have stepped up their verbal defense of the yen and the market pressed ahead. The dollar has traded as high as JPY162.40, while $1.9 bln options at JPY162.50 expire today. The euro has been sold through $1.14, where options for 3.9 bln euros expire today.
Expectations for a firm US jobs report on Thursday (110k-115k increase in nonfarm payrolls) and bargain hunters emerging after a five-day drop in the S&P 500 and Nasdaq may be helping the greenback. The Supreme Court ruling that Federal Reserve Governor Cook can retain her post while she challenges her dismissal by the president seemed to minimize a tail risk. Chair Warsh speaks alongside other central bankers tomorrow at the ECB gathering in Sintra....
....MUCH MORE
