Forex Today – Asian Session: The Dollar Prepares To Extend Losses On Friday

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What you need to know on Friday, April 9:

The dollar fell against all of its main rivals except the pound. Dovish comments from Federal Reserve Chairman Powell, dovish government bond yields, and poor employment-related data in the United States weighed on the greenback.

The GBP / USD pair remained at the lower end of its weekly range, extending its slippage by a few pips to 1.3718 and settling at the 1.3740 area. Concerns around the AstraZeneca vaccine continue to weigh on the British pound as the EMA found a “rare link” between the vaccine and blood clots. However, the UK has administered at least one dose of a coronavirus vaccine to about 50% of the population, dramatically reducing the number of deaths and daily infections.

EUR / USD rallied to 1.1927 with most of its gains at the end of the US session Robert Holzmann, Governor of the Central Bank of Austria, said the European Central Bank could start to reduce its bond purchases during the summer, supporting the shared currency.

European and US stocks posted modest intraday gains, providing some support for commodity currencies. The Australian dollar found additional support on rising gold prices as the spot advanced to its highest level since March 1, ending the day at $ 1,755.00 a troy ounce.


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