GBPEUR continued to surge upward over the afternoon, erasing all losses suffered in August. If this momentum persists, we could revisit the peaks seen back in July. USD demand kept up its steady rise as markets continued to digest Fed Chair Powell's comments on Friday.
*Daily move - against G10 rates at 7:30am, 28.08.24
** Indicative rates - interbank rates at 7:30am, 28.08.24
Much of the market's focus today will be on Nvidia’s earnings release later this evening and the impact it will have on risk appetites.
With September USD trends in mind, when the currency tends to outperform its usual numbers, USD bargain-hunters seem to be among the client-base taking advantage of the currency's current weakness.
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