FOREX SUMMARY

USD saw selling continuation throughout the European morning session, on the back of risk on flow, after vaccine hope roll-outs.

• Despite the Spanish PMI miss, which triggered some safe haven buying in Bonds,
• EURUSD tested through intraday high, mainly on the USD weakness.
• EURUSD printed a 1.2301 high.
• Cable tested the figure at 1.3700 (printed 1.3703 high), ahead of next resistance at 1.3712 Low Mar 1, 2018.
• But seeing better selling interest at these levels, and Cable trades circa 1.3680 at the time of typing.
• PM Boris and his ministers are set to announce this week whether the country could be put into another national lockdown.
• Boris noted on Sunday that further measures will be enforced.
• USDJPY lowest since March and testing immediate support at 102.75 1.00 proj of Oct 7 - Nov 6 downleg from Nov 11 high. Did print a 102.71 low.
• While NOK is the best performing currency in G10 versus the Greenback.
• USDNOK trades at the lowest level since June 2019, with support coming at 8.4687 (24/06/19 low)
• Looking ahead, US Mfg PMI is the notable data, but final reading, Speaker front, Fed Evans, Bostic and Mester are scheduled, and for Europe, ECB Lane
• All eyes on US Georgia elections