FX

It was a volatile start to the week and the US sessions stayed with the theme. The US Dollar edged up to 106.74 on Monday, slightly recovering from a 3-1/2-month low of 105.32 with investors concerned about a global slowing economy and the spread of coronavirus in China. Federal Reserve policymakers also spoke on Monday and bucking the
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While presenting the financial stability report on Monday, European Central Bank (ECB) policymaker and Slovak central bank President Peter Kazimir said that the “risk of recession in the Eurozone is growing.” “Rise in interest rates to continue despite unfavorable economic developments,” he added. Market reaction The staggering recovery in EUR/USD remains unfazed by these above comments,
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In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, GBPUSD could navigate within a range bound theme before attempting a move higher. Key Quotes 24-hour view: “We highlighted last Friday that ‘the price movements appear to be part of a broad consolidation’ and we expected GBP to ‘trade
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