Forex Today: Dollar mixed as investors prepare for the Fed

Valeria Bednarik FXStreet

What you need to know on Tuesday, June 15:

The dollar edged lower, mainly against high-yielding rivals, but surged against safe-haven CHF and JPY. Activity across the FX board was limited amid holidays in Asia and a scarce macroeconomic calendar elsewhere.

US Treasury yields advanced, with that on the 10-year note hitting 1.50%. Wall Street closed mixed, with only the Nasdaq able to end in the green. Investors are looking for the US Federal Reserve’s monetary policy decision later this week.

The EUR/USD pair settled just above the 1.2100 level, while GBP/USD closed around 1.4100, unchanged on a daily basis. The USD/JPY pair was the most interesting for a change, advancing above 110.00 and nearing its monthly high at 110.32.

Gold fell to $1,844.34 a troy ounce, its lowest in two months. Crude oil prices also retreated, with WTI ending the day around $ 71.00 a barrel.

The UK delayed lifting the latest lockdown measures from June 21 to July 19 as expected, to speed up immunization. According to UK’s Public Health officials, the Pfizer and AstraZeneca vaccines are only 33% effective against the Delta variant after a single shot. However, the effectiveness of both vaccines improves to above 90% after two doses.

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Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

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