Free Trial

Greenback Edges Higher as US Advise Against Passage Into Red Sea

USD
  • In a quiet session so far for the greenback, EUR/USD fades toward the lower-end of the day's range, with the timing matching up with the formal US advisory that the Bab-el-Mandeb strait (strait between Yemen and Djibouti that allows access to the Red Sea), and potentially prompting some USD positive flow.
  • Earlier lows in EUR/USD intact at 1.0934, with the Jan11 low just below at 1.0930. USD/CAD rallies further in tandem, adding to recent strength and putting the pair at 1.3434 - just shy of last week's 1.3443 - the YTD high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.