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On Thursday’s session, the U. S. dollar is the unchallenged winner. The USD was able to resume its advance and reached fresh weekly highs against high yielding rivals.
On the other hand, safe-haven assets edged higher against the USD, although without breaking any critical level.
The Bank of England had a monetary policy meeting and decided to leave the interest rate unchanged at 0.1%, disappointing markets that were anticipating a rate hike and further boosting the dollar’s demand.
The GBP/USD pair plummeted to 1.3470, to end the session around the 1.3500 figure.
The EUR/USD pair met sellers around 1.1615 for a third successive day, with bulls giving up, resulting in a test of 1.1527. AUD/USD briefly pierced the 0.7400 figure, settling around the level, while USD/CAD jumped to 1.2460, despite plummeting crude oil prices.
WTI currently trades around $79.10 a barrel after the OPEC+ decided to maintain its current output steady at 400K barrels per day.
Gold returned to its comfort zone just below the 1,8000 mark, currently trading at around $1,793.00 a troy ounce, Central bankers are putting a lot of effort into down-talking inflation concerns.
BOE’s Governor Andrew Bailey noted that “the warning signs are there, the bells are ringing, as it were, so we have to watch this carefully, and that’s what we’re doing,” but he added that they yet see medium-term inflation “de-anchored”.
