FX MARKET REPORT 16.02.2021

FX MARKET REPORT 16.02.2021

FX MARKET REPORT 16.02.2021

Daily Commentary
FX MARKET REPORT 16.02.2021
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FX MARKET REPORT 16.02.2021

GBP/USD is standing out by advancing above 1.39 as the UK reported the lowest number of COVID-19 infections since October and the vaccination campaign continues at a rapid pace. The U.S. dollar was mired at a three-week low on Tuesday as growing optimism about the outlook of the global economy in the coming months sent investors scurrying to purchase riskier currencies including the euro, crown and the British pound. The euro shows little reaction to the upbeat Eurozone growth figures, as EUR/USD flirts with three-week highs of 1.2157. The spot is higher by 0.25% on the day. The dollar index steadied at 90.229, its lowest level since Jan. 27. It has fallen nearly 1.5% over the past eight trading sessions. The Chinese yuan slipped 0.1% to 6.4132 per dollar after the Financial Times reported Beijing was exploring curbs on rare earth mineral exports in order to hurt the U.S. firms that use them.

GBP/USD is standing out by advancing above 1.39 as the UK reported the lowest number of COVID-19 infections since October and the vaccination campaign continues at a rapid pace. The U.S. dollar was mired at a three-week low on Tuesday as growing optimism about the outlook of the global economy in the coming months sent…

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