Daily FX wrap: CAD the notable winner of the day as the remains pressured going into tonight's Yellen address in Philadelphia. Energy/stocks supporting – JPY easing off as a result.
A good day for risk sentiment, and this may well be emanating from expectations Fed Chair in Philadelphia will adopt a softer tone on hikes.
Energy prices have shown decent gains, with a notable move in through 1.2900 and since just below the 1.2850 mark.
Elsewhere, the USD has been similarly pressured, with also managing a late recovery despite yet more EU polls showing the leave camp in the lead, albeit moderately so. ITV, TNS and Opinium released their surveys on the weekend, while YouGov and ICM added to GBP woes this morning.
Repeated attempts through 1.4400 failed to break stronger support levels from 1.4350 however, and we are now back in the mid 1.4400s.
has been less responsive, but has run into strong resistance through .7900. has been well contained in a tight range around 1.1350, but (and cross JPY) have also benefited, spot gaining cautiously through the 107.00 level on the back of a healthier Wall Street showing.
continues to falter ahead of .7400, with a little reluctant to push too hard beyond .6950. Data reads were thin on the ground, but worth noting were weaker than expected (-2.0%), but EU Sentix investor sentiment was up on forecasts.
Source ↔ Download MP3 Free
