FX

FX Strategists at UOB Group noted the upside momentum in EUR/USD is expected to meet solid resistance in the vicinity of 1.1900. Key Quotes 24-hour view: “We highlighted yesterday that ‘there is room for the advance in EUR to extend but it is unlikely to challenge the major resistance at 1.1860’. EUR subsequently dropped briefly
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Cable could now be headed towards the 1.3900 area in the next weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “While we expected GBP to strengthen yesterday, we were of the view that ‘1.3800 is likely out of reach’. The subsequent advance exceeded our expectations as GBP soared to 1.3833. The rapid
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GBP/USD pares intraday losses, down little around mid-1.3700s GBP/USD attracted some dip-buying on Friday amid a subdued USD price action. The risk-on impulse in the markets acted as a headwind for the safe-haven USD. Rallying US bond yields underpinned the USD and capped the upside for the pair. The GBP/USD pair remained on the defensive
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Previewing next week’s FOMC meeting, TD Securities analysts said that they expect Chairman Jerome Powell to communicate that the recovery remains broadly on track and that more progress is expected despite growing concerns from the coronavirus Delta variant. Key quotes “Powell will likely acknowledge that the Committee has begun discussions about tapering plans, but also
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Today’s European Central Bank (ECB) meeting contained very little that was new or noteworthy, argue analysts at TD Securities. They point out a stronger anchor to distant inflation forecasts makes a scant difference to a spot instrument. They see some disappointment to those looking for a stronger dovish signal that suggests some potential for a
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