Market Summary for 17/8/2015
PBOC kept true to its word of fixing its rate according to the market, setting the rate marginally higher again yesterday and this time, there was no reaction and markets continued to trade normally. With lack of further catalysts, markets settled within their current range, again alternating higher and lower throughout the day with no clear directional conviction. The US dollar closed the day slightly higher alongside a firmer housing market index, reversing earlier losses from unexpectedly poor empire manufacturing numbers. Usd/jpy was unable to sustain itself above 124.5, while eur/usd closed lower around 1.1075.