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USD Clears to Weekly High, With Fedspeak in Focus

FOREX
  • Headed through the European morning, the dollar broke out of a tight overnight range, with the greenback the strongest across G10 ahead of the NY crossover. Fundamental newsflow is few and far between, but the USD strength has pushed GBP/USD through to new weekly lows and lower for a second session.
  • EUR is similarly weak, but EUR/GBP continues to gravitate either side of the 50-dma at 0.8626. EUR/JPY holds just below the cycle highs posted yesterday at 134.13.
  • AUD and NZD are among the poorest performers so far, but recent ranges have been largely respected.
  • There's little data on the slate Wednesday, keeping focus on the central bank speaker slate ahead of the Fed blackout period this weekend. ECB's Villeroy, Elderson, Lagarde and Weidmann are on the docket as well as Fed's Harker, Evans, Bostic and Kaplan.
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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