Dollar continues strong bias
Kathryn Garvey | November 29, 2019
A low volume day yesterday due to the U.S. Thanksgiving holiday allowed markets to follow through with trading patterns from earlier in the week. The dollar remains strong, the pound remains in a tight range and the euro moved lower.
“You can tell you ate too much for Thanksgiving when you have to let your bathrobe out.”
November 29, 2019
EUR/USD 1.0990 GBP/USD 1.2890 USD/CAD 1.3310 AUD/USD 0.6763 USD/JPY 109.62 USD/CNH 7.01313 USD/ILS 3.4702 USD/MXN 19.5220 USD/CHF 1.0021 USD/INR 71.7388
USDIn the absence of macroeconomic drivers the dollar held strong at its highest levels in over two weeks. Volatilities across G-10 currencies are mostly lower.GBP
The pound trades comfortably below $1.29 after traders unwound gains from theRecent positive electoral news. Markets await direction from results of the December 12th general election.EURThe euro swung lower despite German unemployment surprising to the upside. German retail sales were weaker than expected showing a 1.9% m/o/m decline, pushing the euro back below $1.10.CADCanadian GDP came in weaker than expected at 1.3%, slowing from 3.7% in Q2, pushing the loonie lower versus the dollar.ASIA/PACIFIC
The dollar versus the yen marched to six-month fresh highs based on broad USD strength.Trading was muted as investors continue to monitor U.S.-China trade negotiations.
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