Good morning, afternoon or evening to all ForexLive traders and welcome to the start of the new FX week!
As is usual for a Monday morning, market liquidity is very thin until it improves as more Asian centres come on online ... prices are liable to swing around on not too much at all, so take care out there.
Some small change only from late Friday levels despite comments over the weekend from US Treasury Secretary Yellen:
- Higher interest rates would be a "plus" for society and for the Federal Reserve
- US monetary policy can handle inflation risks
- Biden's $4 trillion spending plan would be good for the US, even if it contributes to rising inflation and results in higher interest rates
Forex rates not fussed all that much, a wee bit higher for USD:
- EUR/USD 1.2163
- USD/JPY 109.52
- GBP/USD 1.4149
- USD/CHF 0.8996
- USD/CAD 1.2080
- AUD/USD 0.7738
- NZD/USD 0.7197 the weakest
Be back soon with weekend news.
Note, its a market holiday in New Zealand today. Its not 6am in Sydney/Melbourne yet so its extra early (& thin!) for rates this week!