FX MARKET REPORT 08.04.2021

FX MARKET REPORT 08.04.2021

FX MARKET REPORT 08.04.2021

Daily Commentary
FX MARKET REPORT 08.04.2021
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FX MARKET REPORT 08.04.2021

GBP/USD struggled to capitalize on its intraday positive move, despite a softer USD. Concerns over the disruption to the UK’s vaccine rollout weighed on the sterling. The set-up support prospects for a retest of multi-week lows, near the 1.3670 area. EUR/USD to head towards 1.1950 on a break above 1.1889 – Credit Suisse  The dollar index was down 0.1% at 92.340, after dipping as low as 92.155 on Wednesday for the first time since March 23. USD/JPY fell 0.1% at 109.70, while the risk-sensitive AUD/USD was up 0.3% at 0.7635. The minutes for the U.S. central bank’s last meeting showed that the officials remained cautious about the country’s economic recovery from the ravages of the coronavirus pandemic, even while acknowledging that the recovery was gathering steam, and committed to monetary policy support until a rebound was more secure. Fed Chair Jerome Powell will speak at a virtual International Monetary Fund conference later on Thursday. Also weighing on the greenback has been the recent slide in bond yields. Although the benchmark 10-year Treasury yield last traded around 1.66%, after dipping below 1.63% during the previous session, this is still a far cry from the more than one-year high of above 1.77% late last month.

GBP/USD struggled to capitalize on its intraday positive move, despite a softer USD. Concerns over the disruption to the UK’s vaccine rollout weighed on the sterling. The set-up support prospects for a retest of multi-week lows, near the 1.3670 area. EUR/USD to head towards 1.1950 on a break above 1.1889 – Credit Suisse  The dollar…

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