Monday was a subdued day across financial markets but the US dollar did display signs of weakness across the board. The pound fared the best, recapturing the $1.37 level and making inroads towards the $1.38 price. The EURUSD pair gained slightly but not to the extent of sterling. This helped the GBPEUR pair regain some of its recent losses. The cross pair is now hovering around the €1.17 level after breaking into the lower half of the €1.16 figure yesterday morning.
Today’s session is expected to be another quiet session as the market awaits Friday’s big event. On the economic calendar, German GDP numbers will be the highlight. Elsewhere, US new home sales and a Richmond regional manufacturing gauge will also feature.
Have a good day.
Written by Viv Savani. 8:29am, August 24th 2021
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