This morning, the US dollar is extending its recent winning run, enjoying its strongest weekly streak in five months. This comes despite US political uncertainty, with investors choosing to focus on the potentially hawkish new fed chair Jay Powell.
The AUD/USD remains under severe pressure, extending recent losses after hefty selling Thursday and Friday.
The NZD/USD is following suit.
The EUR/USD is selling off for the fourth straight day, while the GBP/USD is holding firmer. The EUR/GBP is retreating deeper into correction territory.
Despite the dollar’s strength, the yen is making gains, with the USD/JPY selling off. The AUD/JPY is experiencing severe selling, as is the EUR/JPY. The GBP/JPY is selling off, but has held its own prior to this.
We have a quiet day ahead in terms of planned economic items.
The G20 meetings will no doubt garner headlines.
The EUR/JPY is selling off heavily for the fourth day in a row, trading at its lowest level for months.
The euro itself is at its most vulnerable for many months, while the yen powers on with strength.