Topic: Currency News

Hawk watching in Europe has intensified as strong UK data releases continue to buoy rate hike bets, with even secondary data now capable of becoming market-moving.

The euro steadied at the top of its range against the dollar, while sterling flirts with 8-week peaks and the Canadian dollar rolls to 3-week highs.

The rebound in market sentiment runs the risk of being spoiled by volatility, while the pound strengthens alongside increasing risk appetite; in contrast, the euro gains support from a more stable and calmer market environment.

The Euro is trending towards a six-week high, while the British pound has been strengthened by the Bank of England’s firm stance on inflation. USD/CAD flirts with a multiweek low.

Despite the protests, business outlook remains stable as fears surrounding the banking sector ease, resulting in a decline in the demand for safe-haven assets; meanwhile, the pound is keeping a close watch on its March high.

Stable dollar as investors monitor banking instability; Germany’s business morale beats forecasts, Sterling approaches 7-week peak, and the Loonie benefits from increased risk appetite.