The past few Fridays have seen some US dollar profit taking in New York trading but it’s the opposite today with the dollar catching a bid.
EUR/USD is near a session low, down 125 pips on the day to 1.2417 after Draghi’s QE talk.
Cable took a run towards 1.57 at the start of US trading but has been sliding since and is around 1.5650. The European low was 1.5627.
The big winners on the day are the commodity currencies following the surprise PBOC rate cut. What’s interesting is that the AUD and NZD highs of the day came immediately after the PBOC headlines hit.
AUDUSD intraday
