Forex news from the European trading session - 15 February 2021



  • GBP leads, JPY lags on the day
  • European equities higher
  • Gold down 0.2% to $1,821.10
  • WTI up 2.0% to $60.66
  • Bitcoin down 2.5% to $47,612
EOD 15-02

It was a relatively quiet session as the market sticks with the themes from the end of last week, with the US still on holiday today.

Equities pushed forward with gains while European yields moved higher as the reflation narrative gathers pace to start the week.

Risk sentiment stays in a better spot and that put pressure on the dollar and yen, with the latter slumping noticeably across the board.

AUD/JPY moved to its highest levels since December 2018 near 82.00 while USD/JPY also posted modest gains to from 105.05 to 105.40 during the session.

The dollar was weaker elsewhere with GBP/USD testing waters above 1.3900 with the downside move in EUR/GBP to 0.8720 in European trading helping to underpin the pound as it falls to fresh lows since May last year.

EUR/USD moved up to test last week's highs of 1.2144-49 but pared that advance to 1.2120 levels now as we look towards the session ahead.

Elsewhere, oil continues to surge forward with WTI up 2% on Middle East tensions to above $60 and taking aim at its 100-month moving average just above $62.

Silver is getting another shot in the arm with a 1% jump to $27.65 but gold is largely struggling for traction still, and Bitcoin is down after closing in on $50,000 on the weekend.