Currency news

USD firm ahead of Easter Break

Thanim Islam
Profile
Head of FX Analysis at Equals Money
-
3
min read
Publish date
28/03/24
  • Fed Waller calls for later and shallower rate cuts


Recap

Minimal price action over the course of the European trading session. GBP was marginally higher, with JPY the biggest winner following some firm talk from authorities in the Bank of Japan that there may be imminent intervention on the continued weakness of JPY.

Fed Waller spoke in the evening and was hawkish as ever, causing USD gains across the board – the USD index is now at a month high.

Today

Market rates

*Daily move - against G10 rates at 7:30am, 28.03.24

** Indicative rates - interbank rates at 7:30am, 28.03.24

Table - 2024-03-28T084914.864

Data points

Table - 2024-03-28T084917.386

Speeches

  • None today.

Our thoughts

Final Q4 numbers from the US will be out today, but unless we see a big deviation on the two previous estimates then volatility likely to be subdued, especially ahead of the long weekend and the core PCE numbers tomorrow. Weekly jobless claims are out, and will be in focus to give a gauge of the jobs market. USD has started the day stronger following Waller's comments.

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Have a great day and wishing you a good Easter!

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About the author
Thanim Islam
Profile
Head of FX Analysis at Equals Money

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