FX MARKET REPORT 15.02.2021

FX MARKET REPORT 15.02.2021

FX MARKET REPORT 15.02.2021

Daily Commentary
FX MARKET REPORT 15.02.2021
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FX MARKET REPORT 15.02.2021

GBP/USD has paused its two-day rally to 34-month highs above 1.3900, as the bulls gather more energy to start afresh northwards. The UK vaccine rollout continues to outperform its peers and along with some positive results in the domestic docket and the likeliness that the BoE will not implement negative rates in the short-term horizon sustained the firm demand for the quid and opened the door for a move to the key 1.40 level in GBP/USD in the not-so-distant future. EUR/USD clings to modest daily gains above 1.2130. The dollar index was down 0.2% at 90.335, not far removed from last week’s low of 90.249, a level not seen since Jan. 27. AUD/USD rose 0.3% to 0.7779, while the Chinese yuan reached its strongest level since June 2018 at 6.4009 per dollar in the offshore market. USD/JPY was up 0.2% at 105.12, with the safe haven yen also suffering despite Japan reporting its gross domestic product grew an annualized 12.7% from the prior quarter in the three months through December, ahead of the 10.1% expansion expected.

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GBP/USD has paused its two-day rally to 34-month highs above 1.3900, as the bulls gather more energy to start afresh northwards. The UK vaccine rollout continues to outperform its peers and along with some positive results in the domestic docket and the likeliness that the BoE will not implement negative rates in the short-term horizon…

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