The US dollar is trading stronger than its peers, with AUD and NZD at the bottom of the list. President Biden is in Brussels for a number of NATO, G-7, and EU meetings. Europe and the US are working on a deal to cut demand for Russian energy. The Japanese yen continues to weaken against US dollar despite comments from the BOJ’s Kataoka for a need to watch upside inflation risks.
“Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.”
March 24, 2022
EUR/USD 1.0978 GBP/USD 1.3182 USD/CAD 1.2558 AUD/USD 0.7494 USD/JPY 121.89 USD/CNH 6.3846 USD/ILS 3.2285 USD/MXN 20.1805 USD/CHF 0.9312 USD/INR 76.3750 USD/BRL 4.8160 USD/SGD 1.3582 USD/DKK 6.7768 USD/SEK 9.4242 USD/NOK 8.6665
USDThe Bloomberg dollar index rose alongside Treasury yields. President Biden is in Brussels today meeting with NATO, the G-7 and European Union.GBPSterling remains largely unchanged versus the US dollar. UK data showed that PMI was higher than forecasted.EUREUR/USD holds below the 1.10 handle, trading 0.2% lower. Data out of Germany and France showed that business activity was supported by the service industry following the loosening of COVID restrictions. The economic activity in both regions is uncertain given the impact of the Ukraine war on manufacturers.CADOil prices popped earlier in the session before WTI futures returned to $114/bbl. USD/CAD is trading slightly higher.ASIA/PACIFIC
The Australian and New Zealand dollars are the worst performing G-10 currencies today amidst a strong US dollar. USD/JPY trading up towards psychological resistance level 122, breaching a 20-year descending trendline.
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