FX MARKET REPORT 22.02.2021

FX MARKET REPORT 22.02.2021

FX MARKET REPORT 22.02.2021

Daily Commentary
Daily Commentary
FX MARKET REPORT 22.02.2021
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FX MARKET REPORT 22.02.2021

GBP/USD is back on the bids in the European session, once again approaching the 1.4050 level to retest the 35-month highs. Boris Johnson’s office announced that the four conditions to ease the covid-induced lockdown are met and therefore, the government can proceed with the first step of reopening the economy from March 8. Meanwhile, PM Johnson said that “we will be setting out a roadmap to bring us out of lockdown cautiously,” with the main priority of re-opening the schools. The upper line of an ascending trend channel from September 10, 2020, currently around 1.4035, guards short-term GBP/USD upside. EUR/USD meets selling pressure and drops below 1.2100. German IFO Business Climate improved further in February. ECB’s Christine Lagarde will speak later in the session. U.S. dollar index was up 0.28% at 90.543. The yen lost 0.33% at 105.78 while the Aussie rose as much as 0.5% to an almost three-year high of $0.7908 before letting the dollar come back to 0.7864. The kiwi hit $0.7338, also its best since early 2018, helped by S&P’s upgrade of New Zealand’s sovereign credit ratings by a notch, but also saw the greenback gradually pare most losses.

GBP/USD is back on the bids in the European session, once again approaching the 1.4050 level to retest the 35-month highs. Boris Johnson’s office announced that the four conditions to ease the covid-induced lockdown are met and therefore, the government can proceed with the first step of reopening the economy from March 8. Meanwhile, PM…

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