EUR/USD is trading below 1.19, driven by a risk-off mood that favors the safe-haven dollar. Fed Chair Powell said the US economy is at an "inflection point" but urged caution regarding the virus. Covid concerns are weighing on the euro.
GBP/USD has recaptured 1.37 as sterling catches a bid. The UK is reopening non-essential shops and other businesses as its vaccination campaign proves successful in keeping covid cases down. The dollar is marginally bid amid a risk-off mood.
A modest pickup in the USD demand exerted pressure on gold for the second straight session. The risk-off mood, softer US bond yields extended some support and might help limit losses.
Ripple Labs and its executives scored another victory recently in its ongoing legal battle against the US Securities & Exchange Commission. Judge Sarah Netburn denied the SEC access to the personal banking information of Brad Garlinghouse and Chris Larsen.
Equity markets continue to set new records as the Nasdaq plays catch up. Fundamentals are backing bulls as Fed doves dampen inflation concerns. Earnings week ahead will likely add more fuel to the fire.