In investing, what is comfortable is rarely profitable
The Shared currency gave up its gains to $1.2075 despite growing economic optimism in the Old Continent and a revised GDP forecast for 2021 and 2022 backed by a surge in private consumption and investment.
The Cable slipped to $1.4060 as Brexit jitters over Northern Ireland extends ahead of BoE Governor Bailey’s speech.
The Japanese yen nose-dived to 109.71 against the U.S dollar as rising U.S. Treasury yields and a bigger-than-expected rise in U.S. consumer prices accelerated fears about runaway inflation and lent support to the U.S. currency.
The Aussie sank to a one-week low to $0.7707 in tandem with risk-off sentiment in Asia in the wake of a shocking rise in U.S inflation data Wednesday.
The Canadian dollar lost ground to 1.2134 against the greenback ahead of the Bank of Canada Governor Tiff Macklem speech at an online event hosted by the central bank later today.
The South African rand weakened to 14.12 per U.S dollar as a jump in consumer prices in the United States raised fears that the central bank would tighten its monetary policy, cutting off a key supply source to riskier assets.
The dollar-rupee crawled by 3 cents to 40.83(Selling) on the local market.
16:30 - USD - PPI (MoM) (Apr)
16:30 - USD - Initial Jobless Claims
20:00 - GBP - BoE Gov Bailey Speaks