The US dollar slipped lower across Monday’s trading session with the pound taking full advantage. GBPUSD tapped $1.3670 in early European dealing hours only to see strong bids come in, taking the currency pair back up to $1.3750. The shared currency also gained against the buck but not to as greater extent as sterling. This pushed the cross (GBPEUR) from €1.15 up to an intraday high of €1.1575 before consolidating a little lower into the New York close.
Today’s highlight will certainly be the US inflation read scheduled for release at 13.30. Expectations are for a month-on-month rise of 0.50% which would imply a jump of 2.5% from last March. The greenback will be in focus as a result. Before this release there will also be several data points of note out from the UK and Germany.
Written by Viv Savani. 7:44am, April 13th 2021
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