The market can stay irrational longer than you can stay solvent.
The common currency suffered a hammer blow to $1.19 on comments from ECB Governing Council member Visco late Thursday that supply and demand issues complicate the E.U inflation outlook and from ECB policymaker Weidmann who called for an end to the Pandemic Emergency Purchase Programme.
Sterling crashed below $1.39 after unexpectedly negative U.K. May retail sales number.
Japanese yen soared to 110.09 per dollar after the Bank of Japan kept its monetary policy settings unchanged following the conclusion of its two-day monetary policy review meeting on Friday.
Loonie plummeted to $1.2368 against the greenback despite poor U.S. initial jobless claims increased by 37,000 to 412,000 in the week ending June 12.
Aussie fell to $0.7540 on escalating U-S-China tensions as China retaliated by citing US President Joe Biden’s executive order as a threat to the key Chinese technology company.
South African rand to 14.10 per dollar after domestic retail sales fell 0.8% in month-on-month terms in April, their fourth monthly decline in five months, suggesting poor consumer demand.
The dollar-rupee edged higher by 5 cents to 41.35(selling) on the local market.
10:00 - GBP - Retail Sales (MoM)(May)
10:30 - JPY - BoJ Press Conference