FX MARKET REPORT 22.12.2020

FX MARKET REPORT 22.12.2020

FX MARKET REPORT 22.12.2020

Daily Commentary
FX MARKET REPORT 22.12.2020
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FX MARKET REPORT 22.12.2020

A modest pickup in the USD demand prompted some fresh selling around  GBP/USD on Tuesday. The discovery of a new COVID-19 strain continued  driving some haven flows towards the USD. Hopes for a last-minute Brexit  deal extended some support to the GBP and helped limit losses. EUR/USD  failed to capitalise on the overnight bounce and witnessed some fresh  selling on Tuesday. The discovery of a new COVID-19 variant benefitted  the safe-haven USD and exerted some pressure. The lack of any strong  follow-through selling warrants caution before placing aggressive  bearish bets. The dollar was up on Tuesday morning in Asia, but jitters  over a new COVID-19 strain left the greenback trading well below the  peaks seen during a rollercoaster session overnight. The dollar index  edged up 0.20% to 90.132. However, the dollar is headed for a third  consecutive quarterly loss and is down 12.5% from a three-year peak in  March.

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A modest pickup in the USD demand prompted some fresh selling around  GBP/USD on Tuesday. The discovery of a new COVID-19 strain continued  driving some haven flows towards the USD. Hopes for a last-minute Brexit  deal extended some support to the GBP and helped limit losses. EUR/USD  failed to capitalise on the overnight bounce and…

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