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USD Run Continues, Touching 2021 Highs

FOREX

The greenback is comfortably the strongest performer early Monday, with the USD Index printing new 2021 highs and levels not seen since late November. This narrows the gap with the 200-dma key level, today crossing at 92.953.

  • Some focus is being paid to the ECB's weekly PEPP release, after last week's data showed a material slowing in the pace of purchases. EUR is mixed ahead of the release, but EUR/GBP's recent weakness extends. The cross is now approaching February's lows and key support at 0.8541.
  • Commodity- and growth-tied currencies are lower, with AUD and NZD among the day's poorest performers. Equity weakness is sapping sentiment here, with US futures indicating a lower open on Wall Street later today.
  • Tier one data releases are few and far between Monday, with just US wholesale trade inventories and trade sales. There's no Fed speakers on the slate as the FOMC entered their pre-meeting media blackout period over the weekend. There are no other central bank speakers of note.
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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