Treasury

EUR/USD
The fiber lost ground to $1.2021 as Fed's Kashkari caps hopes for future interest rate hike initially triggered by U.S Secretary Yellen. Eurozone’s quarterly economic forecasts and second readings of April PMIs may offer fresh impetus.

GBP/USD
Sterling surged to $1.39 ahead of a Bank of England meeting on Thursday, with a possible announcement of a slowdown in its bond-buying program as the vaccine rollout bolsters Britain's economy, shrugging off Brexit woes on fishing waters with France.

USD/JPY
Yen tread water around 109.31 per dollar on optimism about the prospects for a relatively faster US economic recovery from the pandemic. All eyes on US ADP Employment Change and ISM Services PMI releases for April later this week.

AUD/USD
The Aussie mounted to $0.7732 on reports that the Australian government has suspended its plans to fast track tax cuts for the wealthy, as the post-pandemic recovery is faster-than-expected.

USD/ZAR
South African rand recovered from 14.54 to 14.42 per dollar although South Africa is being challenged with a rapid build-up in public debt exacerbated by the Covid-19 pandemic.

USD/MUR
Dollar-rupee remains intact at 40.80(selling) on the local market.