Risk sentiment erodes; dollar mixed versus peers
“Patience is bitter, but its fruit is sweet.”
July 8, 2021
EUR/USD 1.1860 GBP/USD 1.3780 USD/CAD 1.2546 AUD/USD 0.7438 USD/JPY 109.68 USD/CNH 6.4881 USD/ILS 3.2797 USD/MXN 20.0235 USD/CHF 0.9153 USD/INR 74.7137 USD/BRL 5.2776 USD/SGD 1.3522 USD/DKK 6.2706 USD/SEK 8.5765 USD/NOK 8.7577
The dollar edged higher versus some peers amid risk off appetite. Jobless claims are due out today and follow yesterday’s JOLTS data where job openings hit a record high in May. Yesterday’s Fed minutes revealed officials are not ready to adhere to a tapering timeline, but expect conditions to be "met somewhat earlier than they had anticipated at previous meetings."GBPThe pound dropped slightly as gilt yields fall and is closing in on a July low. Rising Covid cases in the UK tamper recovery.EUR
The euro rose this morning as Lagarde speaks in a press conference following the conclusion of the ECB’s strategic review. In the release, Lagarde commented that the ECB doesn’t see 2% inflation as a ceiling in a hawkish change of tone.CAD
The Canadian dollar lost ground versus the greenback for the fourth day pressured by falling oil prices and buying interest for the USD.ASIA/PACIFIC
The Japanese yen strengthened versus the USD as large stops were triggered below 1.1020. Risk-off sentiment bolstered the Japanese currency, however a rise in Covid cases has put Tokyo into a state of emergency as the Olympics draw near.
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