The euro today fell against the resurgent dollar following yesterday’s speech by Jerome Powell saying that it was too early to consider tapering of the Fed’s bond-buying program. The EUR/USD currency pair’s decline was also supported by the recent dovish comments from European Central Bank officials regarding the euro’s exchange rate.
The Japanese yen was weak today, trading either flat or lower versus its most-traded counterparts. The trading session was rather uneventful, with no major news to drive the market. There were several macroeconomic reports released in Japan, but nothing particularly important.
The Sterling pound today fell against the dollar after initially inching higher when it became clear that the UK coronavirus lockdown could stretch up to Easter. The GBP/USD currency pair fell as market sentiment towards the pair shifted to bearish, causing a major selloff despite the relatively weak dollar.
The market sentiment was still favoring riskier currencies over safer ones, and that reflected in the performance of the Swiss franc. The Swissie declined against commodity currencies while holding steady versus other rivals. The worse-than-expected domestic inflation data did not seem to have a material impact on the franc.
Today, the euro rallied against the dollar boosted by the risk-on market sentiment as global equities rallied just two days to the end of 2020. Investors remained bullish on the markets boosted by the US’s positive stimulus news, where lawmakers almost approved $2,000 stimulus checks.
Today, the Sterling pound fell against the dollar as investors turned bearish on the currency following the post-Brexit trade deal reached on Christmas Eve. The GBP/USD currency pair fell today amid thin trading conditions as the UK and European markets remained closed in honour of Boxing day celebrations.
The Australian dollar was the strongest currency on the Forex market today as the sentiment was favoring riskier currencies. Domestic macroeconomic data was supportive of Australia’s currency.
The Japanese yen was the weakest major currency on the Forex market today, falling against all other most-traded rivals. Domestic macroeconomic data could not be the catalysts for the decline: it was not particularly good but not extremely terrible either. In fact, most of the reports beat expectations.
The euro today fell against the dollar following the release of the weak Germany GfK survey early in the European session combined with the risk-off market sentiment. The EUR/USD currency pair today fell even though US markets were closed for the Thanksgiving Day celebrations as investors bought the safe-haven greenback.
The New Zealand dollar was stable today as markets have entered a consolidation mode after optimism caused by the positive coronavirus vaccine news earlier this week started to wane. Macroeconomic data released in New Zealand overnight was mixed.
