“I believe in analysis and not forecasting.”
USD
EUR/USD
EUR/USD remains tilted towards the downside for the start of the week as the US dollar firmed around central bank themes and risk-off tones. However, the possibility of more COVID-19 restrictions being imposed over several European Countries before end of year holidays also weighed on the currency.
GBP/USD
Despite hiking rate to 0.25% in the UK, GBP/USD is still reeling from Friday's sharp drop amid concerns in increasing number of covid cases. UK's Brexit Minister Lord Frost resigned after not having made enough progress on Brexit matters.
USD/JPY
Price action was mostly fueled by volatile movement in Treasury yields as a result of a hawkish decision by the Federal Reserve last week. The Bank of Japan also released its monetary policy decisions, which offered no surprises.
AUD/USD
The Aussie dollar slipped to $0.7098 on Monday after the Public Bank of China (PBOC) unexpectedly cut rates by five basis points on its one year LPR.
USD/CAD
The Loonie retreated towards its old time lows at 1.2915 against the dollar as oil prices dropped by 1.5%.
USD/ZAR
South African rand treaded water at 15.94 against the greenback as the new variant brings higher economic uncertainties and the Fed tightening is potentially ZAR-adverse.
USD/MUR
The dollar-rupee jumped by 10 cents to 43.70(selling) this morning.
