News

Commodity currencies are leading the day

  • 01 September, 2021
  • 10:37 am EEST

The market is opening European trading in a more upbeat attitude, as the recent rally in stocks has prompted more risk-on trading in FX, with commodities currencies pulling marginally ahead on the day.

The previous smaller ranges are continuing to widen, with the AUD/USD up 0.3% to 0.7337 and the NZD/USD up 0.2% to 0.7058, both still aiming for their 100-day moving average this week

In other news, the USD/CAD is presently trading below 1.2600. 
The dollar is regarded as average, as it maintains modest rise against the yen and the franc.
The former is being weighed down by higher Treasury rates, with 10-year yields up basis points to 1.33% on the day.

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