In order to succeed, we must first believe that we can
The Shared currency descended to a two-month low at $1.1660 due to fears of intensifying virus spread in the Old continent, as the number of cases tops 5 million.
The Cable battled at $1.2704 ahead of Bank Of England Bailey’s speech later today, while virus risks and lower expansion in the Kingdom's business activity weighed down the sentiment around the pound.
The Japanese yen extended losses to 105.34 versus the U.S dollar in the wake of dovish minutes from Bank of Japan, revealing that prolonged damage to the economy from the pandemic could lead to solvency problems for some Japanese firms.
The Aussie dollar dropped to $0.7040 as growing expectations of further monetary policy easing and deteriorating risk sentiment weighed on the antipodean currency.
South Africa's rand fell to 17.15 undermined by the U.S Dollar renewed safe-haven appeal across the market.
The dollar-rupee climbed by 5 cents to 40.40(selling).
11:30 - CHF - SNB Monetary Policy Assessment
11:30 - CHF - SNB Interest Rate Decision
12:00 - EUR - German IFO Business Climate Index
16:30 - USD - Initial Jobless Claims
18:00 - GBP - BoE GoV Bailey Speaks
18:00 - USD - New Home Sales (MoM) (Aug)
18:00 - USD - Fed Chair Powell Testifies