FOREX SUMMARY

USD came under pressure this afternoon, with selling emerging post the US PPI .

• The US data came above expectations, so the move was unrelated.
• Some pull back off the lows in Equities likely helped somewhat.
• USD tested low against multiple pairs, EUR, GBP, AUD, CNY, CNH, CHF, JPY, SGD, ILS, and NOK.
• The biggest moves was seen in GBP, with Cable recovering .the whole of its losses and now up 0.85% against the Greenback.
• Latest Brexit headline from the UK, noted that some progress have been made this week.
• GBPUSD is 1.3050 at the time of typing.
• Oil traded firmer this afternoon with Brent and WTI trading above yesterday's high, mainly driven by the USD, and no spillovers were noted into petro currencies.
• The Federal Reserve will do all it can to bring about low unemployment but that alone would not be enough to trigger interest rate hikes, Fed Vice Chair Richard Clarida said today
• EMFX have benefited from the wide range USD selling, and TRY is off the record high now at 7.9000 at the time of typing.
• Looking haed, we still have a packed schedule for speakers, including Fed Quarles, Logan and Kaplan. BoE Haldane and RBA Lowe aslso speaks.
• All eyes remains on US stimulus, Covid spikes and the EU Summit which starts tomorrow