 Sterling, and to a lesser extent, Euro, are propelled slightly higher by hawkish comments from key figures in BoE and ECB. These officials have adopted a stance of patience, preferring to wait for additional economic data before making any decisions on interest rate cuts. Their cautious approach has also lifted benchmark yields in the UK and Eurozone. Swiss Franc is under notable pressure against these two European peers, and the selloff pushes the Franc to the bottom of the currency performance chart of the day. On another front, Dollar is having a downshift together with Yen, continuing its consolidation phase. Despite this, the selling pressure on Dollar is relatively subdued, indicating that while it faces a pullback, investor confidence in the greenback hasn't entirely waned. In contrast, New Zealand Dollar shines as the day's most robust performer, eclipsing Pound with its strength. This development occurs within a broader context of cautious optimism pervading the global stock markets, which also provides a buoyant backdrop for other commodity-linked currencies such as Australian and Canadian Dollars.... |
