March 15, 2022
EUR/USD 1.0986 GBP/USD 1.3075 USD/CAD 1.2823 AUD/USD 0.721 USD/JPY 118 USD/CNH 6.4066 USD/ILS 3.2829 USD/MXN 20.8761 USD/CHF 0.9397 USD/INR 76.6113 USD/BRL 5.1432 USD/SGD 1.3650 USD/DKK 6.7734 USD/SEK 9.5883 USD/NOK 8.9677
The greenback is trading lower than its peers ahead of the Fed’s policy meeting tomorrow. The DXY is down 0.35% on the day, as US equity futures are trading mixed.GBPBOE announcement this Thursday is expected to result in another 25bps rate increase, with a chance of a 50bps rate hike. GBP/USD rates have started the trading day stronger on the backs of higher UK jobs data showing pre-pandemic levels of employment.EURThe euro continued is rally from last week as rates climbed to nearly $1.10 this this morning. Investors factor in possibility of a ceasefire as Eastern European leaders visit Kyiv.CADThe loonie was the only G-10 currency that weakened for the second day this week against the dollar. Oil prices continued to hit to new lows for the month with WTI crude futures down to $94.30 a barrel.ASIA/PACIFICAUD/USD rates continued to fall to two-week lows with rates near the 0.7200 mark. Reports from China on rising cases of the Covid-19 virus and a sell-off in Chinese equities has pressured the Aussie dollar.
The Japanese yen lost against the dollar this week as the market has already priced in at least a 25-basis point increase for US rates. Japanese investors are large purchasers or US Treasury securities. Higher interest rates in the US tend to lift the dollar relative to the yen.
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