USD Rally Continues
The US dollar gained against all its peers except for the Swiss franc and Japanese yen. The greenback has strengthened for the 5th consecutive day while commodity linked currencies decline led by the Canadian dollar. Sterling fell to the lowest level against the US dollar in a month following data out of the UK signaling challenges for the economic recovery.
August 20, 2021
EUR/USD 1.1677 GBP/USD 1.3623 USD/CAD 1.2891 AUD/USD 0.7135 USD/JPY 109.8 USD/CNH 6.5014 USD/ILS 3.2416 USD/MXN 20.3897 USD/CHF 0.9174 USD/INR 74.3938 USD/BRL 5.4645 USD/SGD 1.3627 USD/DKK 6.3688 USD/SEK 8.8326 USD/NOK 9.0697
The US dollar continues to strengthen against its peers and is set to finish its best week in almost two months. US treasuries are trading higher.GBPUK retail sales fell unexpectedly signaling a slowdown in the economic recovery. This data along with inflation numbers earlier this week ease pressure on the Bank of England to taper its stimulus program.EUR
EUR/USD remains within a tight range of 1.1664-1.1689. Downward pressure on the currency pair continues on broad US dollar strength.CAD
USD/CAD continues to march higher breaking the 1.29 level. The currency pair has soared 3% this week, the biggest weekly gain since March.ASIA/PACIFICThe New Zealand dollar rebounded after the country announced that the lockdown would be extended by only four days. A statement from New Zealand’s central bank Governor Adrian Orr gave clear signals that the bank is planning to increase its cash rate at the next meeting even if there are still covid cases in the nation.
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