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Eurozone unemployment figures puts the EUR in focus later today. With no other stats to consider, however, COVID-19 news updates will need monitoring.
The US dollar has broken out during the course of the week against the Japanese yen, plainly smashing through the ¥115 level.
The British pound continues to show signs of strength overall as we are now hanging about the ¥157 level.
The US dollar has pulled back ever so slightly against the Japanese yen as we continue to see a lot of hesitation after what had been a parabolic move.
The British pound has rallied ever so slightly during the trading session on Friday as we continue to see the market stubbornly levitate.
It’s a busy day ahead, with economic data putting the EUR, the Loonie, and the Dollar in focus later today. Nonfarm payrolls will be the headline stat, however.
By Gina Lee
The US dollar has pulled back just a bit during the course of the trading session on Thursday, but as you can see, we are still very bullish.
The British pound has pulled back rather significantly against the Japanese yen, reaching down towards the ¥156 level.
The greenback stood at 116.115 yen, little changed from Wednesday, when it rallied back toward Tuesday's high of 116.355, lifted by more hawkish rhetoric from Fed official and a strong U.S. jobs report. Fed officials said the "very tight" U.S. labour market might warrant raising rates sooner, and indicated they could also reduce the central bank's overall asset holdings to tame high inflation - a process dubbed quantitative tightening (QT) -minutes of their Dec. 14-15 policy meeting showed. In the wake of that, futures on the federal funds rate priced in a roughly 80% chance of a quarter-percentage-point Fed hike by its March meeting.
The greenback stood at 116.115 yen, little changed from Wednesday, when it rallied back toward Tuesday's high of 116.355, lifted by more hawkish rhetoric from Fed official and a strong U.S. jobs report. Fed officials said the "very tight" U.S. labour market might warrant raising rates sooner, and indicated they could also reduce the central bank's overall asset holdings to tame high inflation - a process dubbed quantitative tightening (QT) -minutes of their Dec. 14-15 policy meeting showed. In the wake of that, futures on the federal funds rate priced in a roughly 80% chance of a quarter-percentage-point Fed hike by its March meeting.
Economic data will influence later in the day. Early in the day, however, we can expect reaction to the FOMC meeting minutes to dictate direction.