In the currency market, last week the EUR/USD set a new annual low at 1.0723 and selling pressure was on the pair, which failed to recover 1.08. The absence of top-level economic data focused the focus on the appearances of several members of the main Central Banks and their position on future interest rate cuts.
Of the rest of the panel, the Pound traded sideways last week, but remaining in the lower part of the range near minimums at 0.8532 levels thanks to its correlation with risk appetite and the evolution of the stock markets.
The Yen is the G10 currency that has suffered the most following Kazuo Ueda's comments last week suggesting there is no rush to change the current ultra-loose monetary policy. The market expected changes during the first half of 2024 and the message from the new BoJ governor cooled those expectations, which penalized the Japanese currency, which began the week above 161.
As for the Euro in its cross against the Swiss Franc, the pair recovers ground and began the week continuing with the highs of the previous one, at levels of 0.9430.
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Economic News, Dollar, Euro
