The FX board is showing no signs of life at the beginning of the week, with most major pairs stuck to tight ranges. The EUR/USD pair hovers around 1.1860, extending its consolidative phase, unable to react to European data.
The GBP/USD exchange rate wavered after a report showed that the UK economy slowed in the fourth quarter of last year. It also remained in a tight range after a report showed that the US inflation pulled back in January, raising the possibility of more Federal Reserve interest rate cuts this year. It was trading…
The USD/ZAR is near the 15.91830 ratio as of this writing on a day that will most likely remain rather quiet for the currency pair.
The EUR/USD exchange rate remained in a tight range on Monday morning as market participants reacted to the recent macro data from the United States and their implications on the Federal Reserve. It was trading at 1.1867, a few points below this month’s high of 1.1935.
The AUD/USD exchange rate pulled back for two consecutive days, moving from a high of 0.7145 this year to the current 0.7035. The pair will likely be volatile this week as the Federal Reserve and the Reserve Bank of Australia (RBA) release minutes of their last minutes.
EUR/USD fluctuates in a narrow channel below 1.1900 in the European session on Monday after posting small gains in the previous week.