Forex Today: Troubled dollar continued to ease

FXStreet Team FXStreet

Here is what you need to know on Tuesday, April 14th:

The dollar remained weak, resuming its decline with the return of the US markets. The EUR, however, was unable to benefit from the weakness of its rival, ending the day with modest losses around 1.0920.
The GBP/USD pair surged past 1.2500, its highest in over a month, amid lack of interest in the greenback coupled with weekend news indicating that UK PM Boris Johnson left the hospital, still recovering from coronavirus.
The Japanese yen surged, amid demand for safe-haven assets. Gold made the most out of it, with spot advancing to the $1,720.00 a troy ounce price zone, its highest since November 2012.
Commodity-linked currencies were among the best performers, despite the poor performance of US equities, most likely benefiting from gold’s rally.
The Canadian dollar was also up, despite crude oil prices fell. After a long weekend of discussion, the OPEC+ agreed to cut 9.7 million barrels per day through May and June. The cut was the deepest agreed by global oil producers, yet it fell short of the market’s expectations.
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EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD remains in the positive territory after registering modest gains in the previous session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator at 54 is edging higher, signaling improving momentum. RSI near mid-50s keeps momentum balanced. A sustained push above 60 would firm bullish control.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold eyes acceptance above $5,000, kicking off a big week

Gold is consolidating the latest uptick at around the $5,000 mark, with buyers gathering pace for a sustained uptrend as a critical week kicks off. All eyes remain on the delayed Nonfarm Payrolls and Consumer Price Index data from the United States due on Wednesday and Friday, respectively.

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Altcoins such as Aster, Decred, and Kaspa are leading the broader cryptocurrency market recovery over the last 24 hours, as Bitcoin holds above $70,000 on Monday, up from the $60,000 dip on Thursday.

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

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