The markets are unforgiving, and emotional trading always results in losses.
The Shared currency dropped to $1.2148 despite dovish comments from Fed Chair Powell, who reiterated that the economy was a long way from inflation and employment goals.
The Pound sterling rocketed to $1.4161 after U.K. Prime Minister Boris Johnson introduced a plan to ease current lockdown restrictions in stages as the country continues its rapid COVID-19 vaccine rollout.
The Japanese yen lost ground to 105.52 against the U.S dollar after Finance Minister Taro Aso said earlier today that the government could likely be forced to keep issuing deficit-covering bonds, at least until 2025, given that country’s current fiscal situation.
The Aussie dollar ticked down to $0.7910, although an upbeat December quarter wage price index in today's Asian session.
The South African’s rand gained sharply to 14.58 against the U.S dollar after the Federal Reserve Chair Jerome Powell said the U.S. economy needed support for ‘some time’, comments that had hurt the dollar.
The dollar-rupee unchanged at 40.15(selling) on the local market.
11:00 - EUR - German GDP (QoQ) (Q4)
19:00 - USD - New Home Sales (Jan)
19:30 - USD - Crude Oil Inventories