FX MARKET REPORT 13.05.2021

FX MARKET REPORT 13.05.2021

FX MARKET REPORT 13.05.2021

Daily Commentary
Daily Commentary
FX MARKET REPORT 13.05.2021
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FX MARKET REPORT 13.05.2021

GBP/USD edged lower for the second straight session, though lacked follow-through selling. The upbeat UK economic outlook underpinned the British pound and extended some support. A combination of factors capped the USD upside and assisted the pair to bounce off daily lows. EUR/USD struggles for direction amidst risk-off mood. The greenback remains bid post-upbeat April CPI.US Initial Claims, Producer Prices next in the calendar. The dollar index was up 0.1% at 90.775, around its highest level in a week. EUR/USD traded 0.1% higher at 1.2075, after dropping around 0.6% the previous session, GBP/USD was flat at 1.4052, and USD/JPY was up 0.1% at 109.73, close to its strongest level in five weeks. AUD/USD fell 0.2% to 0.7712, while NZD/USD rose 0.1% to 0.7160, benefiting from further plans to open the New Zealand economy. The main driver of these dollar gains has been the surge in U.S. inflation, and the concern this will force the Fed to move away from its ultra-easy monetary policies sooner than its current guidance suggests.

GBP/USD edged lower for the second straight session, though lacked follow-through selling. The upbeat UK economic outlook underpinned the British pound and extended some support. A combination of factors capped the USD upside and assisted the pair to bounce off daily lows. EUR/USD struggles for direction amidst risk-off mood. The greenback remains bid post-upbeat April…

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