DailyCast

FX MARKET REPORT 24.08.2020

FX MARKET REPORT 24.08.2020
Daily Commentary
FX MARKET REPORT 24.08.2020
/
FX MARKET REPORT 24.08.2020

The GBP/USD pair lost more than 100 pips on Friday and staged a rebound  at the start of the week. However, the pair lost its momentum after  climbing to 1.3150 area and erased all of its daily gains. As of  writing, the pair was down 0.15% on a daily basis at 1.3068.  The EUR/USD pair posted weekly losses for the first time since mid-June  last week but staged a rebound during the first half of the day on  Monday. However, the pair met resistance near 1.1850 and erased its  daily gains. As of writing, EUR/USD was virtually unchanged on the day  at 1.1798.   US Dollar Index (DXY) to drop below 93.00 during the first half of the  day and helped GBP/USD edge higher. During the American trading hours,  rising US Treasury bond yields helped the USD gather strength and lifted  the DXY to a daily high of 93.30. At the moment, the DXY is up 0.06% on  the day at 93.26 and the 10-year US T-bond yield is up more than 2%.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top