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Greenback Bounce Hits Resistance, GBP Marches On

FOREX

GBP/USD is staging a decent recovery from the Wednesday lows, with the pair bouncing close to a point since the Asia-Pac close. A generally weak dollar backdrop, twinned with persistent GBP vaccine-driven strength is contributing, with EUR/GBP's break to new multi-month lows a further catalyst.

Equities are a touch softer ahead of the US open, with the e-mini S&P off around 10 points to indicate a lower start at the opening bell today.

AUD initially rose as high as 0.7770 on labour market data was broadly in-line with estimates but the breakdown showed a lower participation rate and less hours worked, but a resumption of greenback weakness has propped the pair into the NY crossover.

Weekly US jobless claims, housing starts/building permits make up the data schedule Thursday, with Eurozone consumer confidence also due. Central bank speakers include BoE's Saunders, Fed's Brainard & Bostic.

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