As we move closer to the Asia Pacific session, let’s take a look at where the major currencies are trading.
The British Pound ranks first while the Euro has been the underperformer.
I can’t really give a good enough reason for yesterday’s price.
The CAD saw an initial rise following a hot CPI release, then faded (one might have expected a slightly larger reaction considering positioning).
Sterling, as the strongest currency, doesn’t make much sense given last week’s BoE and the upcoming election.
The Euro has reason to trade cautiously, I suppose, but with OAT/Bund spreads falling, the weakness was surprising.
I’m just blaming the end of month, end of quarter flows for now.
Foreign exchange strength until New York close
cnbctv18-forexlive
