FX MARKET REPORT 18.03.2021

FX MARKET REPORT 18.03.2021

FX MARKET REPORT 18.03.2021

Daily Commentary
Daily Commentary
FX MARKET REPORT 18.03.2021
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FX MARKET REPORT 18.03.2021

The BoE does not hold a press conference and will likely remain silent on yields – and staying mum means allowing them to rise. Such an increase in yields would allow the pound to recover – even if the dollar storm continues. GBP/USD touched 1.40 key level ahead of BoE, swinging around 1.3960 currently. Euro/dollar has been rejected at 1.1990 – the same cap it hit late last week. That double-top also converges with the 100 Simple Moving Average on the 4-hour chart. Even if the European Medicines Agency gives the green light to resume the usage of Astra’s doses, many Europeans are set to refuse to receive them. Overall, the eurozone is set to lag behind in its recovery from the crisis – and that may weigh on the euro. The US dollar quickly unwound all this week’s gains after the FOMC remained consistent in its dovishness. The dollar index fell by 0.46% to 91.44, levels last seen at the end of last week. Interestingly, as the stock market rally has ebbed, the index has climbed back to 91.51 in Asia as US 10-year futures fall by 0.20%, suggesting the mechanical linkage remains as strong as ever.

The BoE does not hold a press conference and will likely remain silent on yields – and staying mum means allowing them to rise. Such an increase in yields would allow the pound to recover – even if the dollar storm continues. GBP/USD touched 1.40 key level ahead of BoE, swinging around 1.3960 currently. Euro/dollar…

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