Forex Today: Markets choppy amid looming holidays

FXStreet Team FXStreet

Here is what you need to know on Friday, December 20^th:

The EUR/USD pair traded choppily, holding above 1.1100, with dismal US data capping the decline.
The Sterling plummeted sub 1.3000 amid persistent concerns about Brexit. UK Retail Sales missed the market’s expectations, the BOE left the monetary policy unchanged. This Friday, UK PM Johnson will submit his Withdrawal Agreement Bill to the House of Commons and is expected to pass comfortably after Johnson’s victory last week.
Safe-haven assets appreciated mid-US afternoon, despite Wall Street rallying to record highs. Yen and gold eased modestly ahead of the close, but hold on to daily gains against the greenback.
Crude oil prices continued rallying, WTI settled at $61.00 a barrel.
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EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.