Sterling leads G10 currencies as USD slides
The British pound hit levels not seen since April 2018 as the US dollar weakened across the board. Market dynamics including inflation pressure, vaccine optimism and weakening demand for global bonds has pushed the greenback lower. The Canadian dollar remains supported by oil prices as cold temperatures in the US are still impacting crude production.
February 18, 2021
EUR/USD 1.2077 GBP/USD 1.3960 USD/CAD 1.2699 AUD/USD 0.7761 USD/JPY 105.7300 USD/CNH 6.4626 USD/ILS 3.2669 USD/MXN 20.2959 USD/CHF 0.8966 USD/INR 72.6512 USD/BRL 5.4291 USD/SGD 1.3278 USD/DKK 6.1568 USD/SEK 8.3171 USD/NOK 8.4750
USDThe US dollar is broadly lower amidst inflation pressures, optimism on vaccine rollout and lower demand for global bonds. US 10-year Treasuries retreated from one-year high of 1.33% trading around 1.29% today.GBPOptimism over vaccine rollout supports the British pound with GBP/USD rising to levels not seen since April 2018. The currency pair hit a high of 1.3986.EUREUR/USD is recovering after hitting a low for the week of 1.2022. Lower demand for the US dollar has supported the common currency.CADUSD/CAD hit a session low of 1.2665 as oil prices remain strong and the US dollar trades weaker across the board. Freezing temperatures in the US have taken almost 40% of US crude production offline resulting in higher oil prices.ASIA/PACIFICUSD/JPY is trading 0.2% lower on broad market dynamics of a lower greenback. AUD/USD reversed a two-day losing streak following data that showed the Australian jobless rate fell more than expected last month.
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