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Pound Tumbles to 6-Week Lows Despite Upbeat Jobs Data as Dollar Soars

The Sterling pound fell to new monthly lows against the dollar despite the release of mostly upbeat UK employment data as the dollar gained against its peers. The GBP/USD currency pair fell driven by the resurgent greenback despite US Treasury yields pulling back as investors reacted to the Fed Chair’s comments downplaying inflation concerns.

Canadian Dollar Falls Against US Peer Despite Upbeat Retail Sales Data

The Canadian dollar fell against its Southern neighbor for the second consecutive session despite the release of upbeat fundamental data from Canada. The USD/CAD currency pair initially fell as the loonie benefited from rising global crude oil prices, but the decline was short-lived as the pair later rallied higher.

Pound Tumbles After BoE Keep Rates Steady Amid Rising US Treasury Yields

The Sterling pound fell against the dollar following the Bank of England’s dovish interest rate decision despite a unanimous vote to maintain the current rates. The GBP/USD currency pair’s decline was also fueled by the rising US Treasury yields, which boosted the dollar at the pound’s expense. The pair later recouped some losses.

Euro Rallies Despite Weak German Retail Sales, Buoyed by Dovish Fed Speeches

The euro initially fell against the dollar on weak investor sentiment combined with disappointing retail data from Germany but later recovered and rallied higher. The EUR/USD currency pair rallied higher despite dovish comments from European Central Bank policymakers who dislike the rising euro area bond yields.

Euro Drops Against Dollar, Spikes Higher on Powell Speech, Later Falls

The euro fell against the resurgent US dollar ignoring in-line euro area releases, as US Treasury yields remained stable during the first half of today’s session. The EUR/USD currency pair spiked higher during Jerome Powell‘s speech but later fell despite the Fed chair reiterating the bank’s accommodative stance.

Pound Rallies on Upbeat UK Jobless Claims Data, Later Heads Lower

The Sterling pound rallied to new 34-month highs against the dollar boosted by the British government’s 4-step reopening plan, which could boost the UK’s economic recovery. The GBP/USD currency pair was also boosted by the drop in the UK unemployment numbers recorded in January. The number of jobless claims fell, indicating that the economy was doing good.

Canadian Dollar Falls Against US Dollar on Weak Oil Prices, COVID-19 Fears

Today, the Canadian dollar fell against its US competitor driven by the falling crude oil prices and the rising US Treasury yields that boosted the greenback. The USD/CAD currency pair recouped most of yesterday’s losses as buyers stepped in defending the crucial 1.2600 level and pushing the pair higher.

Canadian Dollar Trails Resurgent US Peer on Disappointing Jobs Data

The Canadian dollar today lost ground against the dollar for the third consecutive session despite rising global crude oil prices as the greenback rallied. The USD/CAD currency pair edged higher for the third consecutive session following the release of disappointing employment reports from both Canada and the US.

Euro Falls Against Resurgent Dollar on Weak Inflation and Retail Sales Data

Today, the euro fell against the resurgent dollar amid rising US Treasury yields that boosted the world’s reserve currency despite the turbulent American politics. The EUR/USD currency pair’s decline was also fueled by the disappointing inflation data coming out of the eurozone, causing investors to sell the euro.

Euro Rallies Against Weak Dollar for the Fourth Consecutive Day

The euro today rallied to new highs against the US dollar for the fourth consecutive session boosted by investor optimism about the global economic recovery. The EUR/USD currency pair also benefitted from the greenback’s overall weakness as the global reserve currency lost its safe-haven appeal due to the risk-on market mood.

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