FX MARKET REPORT 04.01.2021

FX MARKET REPORT 04.01.2021

FX MARKET REPORT 04.01.2021

Daily Commentary
Daily Commentary
FX MARKET REPORT 04.01.2021
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FX MARKET REPORT 04.01.2021

GBP/USD trims early Asian gains that refreshed multi-month top to  1.3698, before currently declining to 1.3680, up 0.10% intraday, while  heading into the London open on Monday. A one-month-old ascending trend  line near 1.3745 lures GBP/USD buyers unless the quote drops below  September 2020 high near 1.3480. The new year has begun with the dollar  on the back foot and a cautious market mood. Equities are only  marginally higher, the safe-haven dollar extends its decline, with  EUR/USD rising toward 1.23. the shared currency continued benefitting  from the prevalent bearish sentiment surrounding the US dollar. This, in  turn, assisted the EUR/GBP cross to gains some positive traction on  Monday and snap three consecutive days of losing streak. The dollar  index was down 0.3% at 89.597, not far above a more than 2-1/2 year low  of 89.515 made last week. The index dropped more than 7% last year, its  first annual loss since 2017. USD/JPY fell 0.2% to 102.95, after Japan’s Prime Minister, Yoshihide  Suga, said his government is mulling a state of emergency in Tokyo as  infections rise. AUD/USD was up 0.2% at 0.7721. Cryptocurrencies  continue their uptrend, with Bitcoin trading around $32,000 after  surging above $34,000 over the holidays. Ethereum is also soaring,  changing hands above $1,000. XRP is attempting recovery above $0.20  after a legal issue sent Ripple’s token to a free-fall.

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GBP/USD trims early Asian gains that refreshed multi-month top to  1.3698, before currently declining to 1.3680, up 0.10% intraday, while  heading into the London open on Monday. A one-month-old ascending trend  line near 1.3745 lures GBP/USD buyers unless the quote drops below  September 2020 high near 1.3480. The new year has begun with the dollar…

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