GBP/USD Correction Downwards

#market_pulse #currencies

😎 Hello everyone! Here’s your essential market update for today:


📊 Trimming risk exposure as BOJ, Fed loom

▫️ Euro (EUR): The euro fell sharply, hitting a one-month low against the dollar of $1.0748 and was last 0.35% weaker at $1.0764. Political uncertainty in France following gains by the far-right in European Parliament elections prompted President Macron to call a snap national election.

▫️ U.S. Dollar (USD): The dollar index rose 0.08% to 105.15, touching a one-month top of 105.3. Strong U.S. payrolls data increased the risk of a hawkish Fed policy signal at the upcoming meeting on Wednesday.

▫️ Pound Sterling (GBP): The pound dropped 0.33% against the euro, touching a new near two-year low of 84.51 pence, and was last down 0.22% on the Swiss franc, hitting a seven-week low of 0.9639 francs.

▫️ Japanese Yen (JPY): The dollar was last up 0.15% on the yen at 157 yen, having jumped 0.7% on Friday after the payrolls print. The BOJ's upcoming policy meeting on Thursday and Friday may impact the yen further.

▫️ Swiss Franc (CHF): The euro was last down 0.22% on the Swiss franc, hitting a seven-week low of 0.9639 francs.


⌛️Key Events to Watch:

U.S. inflation data due on Wednesday
Federal Reserve policy meeting on Wednesday
Bank of Japan's monetary policy meeting on Thursday and Friday

👋 Stay tuned for more updates and happy trading!

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