EUR/GBP may move to the upper half of the 0.87-0.88 band .

EUR/GBP is back at Monday’s close. Economists at ING expect the pair to move to the upper half of the 0.87-0.88 band. 

No domestic drivers

“There is nothing to highlight in the UK calendar today, and the Pound should continue to be driven by Dollar dynamics.”

“EUR/GBP initially had a positive reaction to the BoJ announcement, likely due to GBP’s higher sensitivity to the adverse response in global equities, but is now back at yesterday’s close.”

“Still, GBP downside risks should be larger than for the Euro if risk sentiment remains pressured today, and EUR/GBP may move to the upper half of the 0.87-0.88 band.”

USD/JPY stays below 133.00 after BOJ-inspired drop

USD/JPY continues to trade at fresh multi-month lows below 133.00 during the European session on Tuesday. The BOJ’s unexpected tweak to its yield curve control strategy triggered a strong rally in the Japanese Yen, causing the pair to suffer heavy losses.


EUR/USD clings to modest gains above 1.0600 ahead of US data

EUR/USD seems to have steadied above 1.0600 heading into the American session on Tuesday. Ahead of the Housing Starts and Building Permits data from the US, the broad-based US Dollar weakness helps the pair stay in positive territory.


GBP/USD rises above 1.2150 despite risk aversion

GBP/USD is recovering ground above 1.2150 in the European session. Cable extends recovery, as the US Dollar loses further ground across the board. Markets remain unnerved amid the surprise BoJ policy move, spiking up US Treasury yields. 


Gold price surges past $1,800 amid continued US Dollar sell-off

Gold price is extending its rebound above $1,800, as the US Dollar sell-off intensifies in tandem with the USD/JPY pair following BoJ Governor Kuroda’s presser. The bright metal ignores the rally in the US Treasury yields. US Housing data coming up next. 

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