USD steadied after selling off yesterday
· USD steadied after selling off yesterday.
· Research revised their EURUSD forecast higher over Fed independence concerns.
· China kept their 1y and 5y loan prime rates unchanged.
Recap
· Asian equities traded lower overnight, along with S&P 500 futures.
· The broader USD remained unchanged after a significant selloff on Easter Monday.
· EUR/USD climbed to 1.1550 yesterday — its highest level since the end of 2021.
· The DXY (Dollar Index) dropped to its lowest level since March 2022.
· Safe-haven currencies such as the JPY and CHF remain in demand:
· USD/JPY fell to the key 140.00 level.
· Asian currencies continue to benefit from the broadly weaker USD.
· This week is light in terms of economic data releases.
· Market attention is likely to focus on developments in trade talks:
- Ongoing discussions between India and the US.
- Upcoming talks with Japan, expected to take place on 24th April.
Source: Bloomberg, Barclays Research
Today’s Rates
Today's Interbank Rates at 12:20 am against GBP movement.
GBP>EUR – 1.1641
GBP>USD – 1.3372
EUR>GBP – 0.8589
EUR>USD – 1.1488
GBP>CAD – 1.8503
GBP>AUD – 2.0900
GBP>SEK – 12.740
GBP>AED – 4.9101
GBP>HKD – 10.373
GBP>ZAR – 24.920
GBP>CHF – 1.0857
GBP>PLN – 4.8929
The Week ahead
· Wednesday – Indonesia: BI rate.
· Wednesday – Flash Manufacturing PMI.
· Wednesday – Flash Services PMI.
· Wednesday – UK: Flash Manufacturing PMI.
· Wednesday – UK: Flash Services PMI
· Thursday – Germany: IFO current assessment
· Thursday – US: Existing home sales
· Friday – Japan: Tokyo CPI, % y/y
· Friday – Japan: Tokyo CPI excl. perishables, % y/y
· Friday - UK: Retail sales, % m/m
22nd of April 2025
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