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GBP Bounces Further From Last Week's Low

FOREX
  • GBP is the strongest currency so far in G10, buoyed as the UK takes its first step in unwinding Coronavirus restrictions after a lengthy lockdown. GBP/USD is again testing the 50-dma at 1.3838 after a protracted spell of weakness at the beginning of last week. The GBP strength has pressured EUR/GBP to new 2021 lows, narrowing the gap with 2020's bottom at 0.8282.
  • US equity futures are lower, rolling off the sharp rally into the Friday close. This has helped support CHF this morning, rising against most other majors.
  • SEK trades poorly, extending the general downtrend seen since the beginning of 2021, helping put EUR/SEK and USD/SEK at the best levels of the year.
  • No tier one data crosses Monday, with just a speech from Fed's Waller due. Waller joined the FOMC in December last year, and today's speech will be his first public comments in the role.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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