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FX SUMMARY - USD stays offered

FOREX
  • Main early price action during the morning European session, has been a continuation of the overnight trade.
  • USD stays offered and in the red against all G10s.
  • NZD is still in the lead, following the hawkish RNBZ overnight, but NZDUSD has faded somewhat off its best levels at the time of typing.
  • GBP has gained, after a decent beat on the Inflation data release.
  • This has pushed EURGBP back towards the 0.8500 figure, printed 0.85069 low.
  • Most other G10 FX have mostly traded range bound, with market participants awaiting on Fed Powell this afternoon.
  • Looking ahead, BoE Cummings will be on CNBC, EU's VDL presser on climate package.
  • Other speakers include ECB Schnabel, BoE Ramsden and Fed Kashkari

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