FX MARKET REPORT 19.03.2021

FX MARKET REPORT 19.03.2021

FX MARKET REPORT 19.03.2021

Daily Commentary
Daily Commentary
FX MARKET REPORT 19.03.2021
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FX MARKET REPORT 19.03.2021

GBP/USD managed to regain some positive traction on the last trading day of the week. Retreating US bond yields kept the USD bulls on the defensive and extended some support. Concerns about a shortage in COVID-19 vaccines in the UK might cap gains for the major. EUR/USD bounces off lows in the 1.19 zone on Friday. Lower US yields remove strength from the dollar. German Producer Prices rose 0.7% MoM, 1.9% YoY. The dollar index was down about 0.1% at 91.689 after rising as much as 0.2% in early Asian trading. The Federal Open Market Committee (FOMC) pledged this week to press on with aggressive monetary stimulus, saying a near-term spike in inflation would prove temporary amid projections for the strongest U.S economic growth in nearly 40 years. The benchmark U.S. 10-year yield climbed to a more-than-one-year peak of 1.754% overnight before easing to 1.6821%. The yen dipped briefly after the Bank of Japan widened its target band for the benchmark yield in a decision that was in line with market expectations. The dollar was last down 0.1% at 108.760 yen after small gains overnight.

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GBP/USD managed to regain some positive traction on the last trading day of the week. Retreating US bond yields kept the USD bulls on the defensive and extended some support. Concerns about a shortage in COVID-19 vaccines in the UK might cap gains for the major. EUR/USD bounces off lows in the 1.19 zone on…

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