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Euro Rallies Higher Against US Dollar on Positive German Data

The euro today rallied higher against the US dollar from the Asian session following yesterday’s dovish FOMC minutes. The positive German GDP data fueled the euro’s rally into the early European session before a slight retracement ensued following the release of the latest ECB minutes.

British Pound Hits New Lows on Lackluster UK Inflation Data

The British pound was on a downtrend against the US dollar from the start of today’s session largely boosted by a risk-off sentiment in the markets. The downtrend was further accelerated by the release of the UK Consumer Price Index data for April, which missed expectations, dragging the pound much lower.

Euro Drops to New YTD Lows on Disappointing Eurozone PMIs

The euro today hit new 2018 lows against the US dollar following the release of disappointing advance PMI data from across the Eurozone. Some of the PMIs released by IHS Markit included the Markit/BME Germany Manufacturing PMI, which missed expectations by a significant margin.

Turkish Lira Crashes to Record Low

The Turkish lira crashed today, sinking 5% to the record low before recovering a bit. The currency still trades far below the opening level.

Yen Jumps Sharply on Worsening Sentiment, Ignores Economic Data

Macroeconomic data released in Japan today was rather disappointing. Yet that did not prevent a sharp jump of the Japanese yen on the back of the worsening market sentiment.

Loonie Unable to Maintain Rally Despite Supportive Fundamentals

The Canadian dollar fell today after rallying intraday. That was surprising, considering that fundamentals looked extremely supportive for the currency.

US Dollar Flat, Waits for Fed Minutes

The US dollar traded almost flat against most of its major peers amid profit-taking and in anticipation of the upcoming policy minutes from the Federal Reserve.

GBP/USD Rallies Then Declines on Testimonies by BoE Members

The GBP/USD currency pair today retreated from its overnight rally after encountering resistance just before the crucial 1.3500 psychological level. The currency pair was on an uptrend from the early European session before reversing in the mid-European session following testimonies by Bank of England policymakers before the UK Parliament’s Treasury Select Committee.

Japanese Yen Bounces After Falling on CPI & Risk Appetite

The Japanese yen fell intraday, dragged down by underwhelming domestic macroeconomic data and the positive market sentiment. Yet the currency has bounced by now as the impact of risk appetite seemed to wane.

Australian Dollar Attempts to Keep Rising, Fails

The Australian dollar rose earlier today, extending yesterday’s rally, on the back of the positive market sentiment. Yet the currency has retraced its gains by now.

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