Forex Today: Monday blues weigh on the dollar
|What you need to know on Tuesday, April 13:
The greenback shed some ground across the board, although major pairs held within familiar levels. Investors were in a risk-off mood at the beginning of the day, with the American currency pushing higher, but the bias changed in the European session, as equities bounced off lows.
UK’s reopening provided support to the pound, with GBP/USD settling around 1.1740. The country reopened pubs, restaurants and in general, non-essential retailers, as planned.
The EUR/USD pair recovered the 1.1900 threshold, but there was no follow-through in US trading hours, as US indexes remained stuck around their opening levels.
Commodity-linked currencies ended the day unchanged against the greenback, while the JPY ticked higher against its American rival.
Gold prices were down, with the bright metal settling at $ 1,730.00. Crude oil prices advanced intraday, but trimmed gains ahead of the close. WTI settled at $59.55 a barrel.
US Federal Reserve Eric Rosengren provided some interesting comments that anyway were ignored by the market’s participants. He said that the US economy should experience a significant rebound this year, although he said that it depends on vaccines remaining effective against the new coronavirus strains. He added that "the current highly accommodative stance of monetary policy is appropriate."
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