Markets have been relatively quiet and range bound through the Asian and European sessions as news flow has been subdued. USDCNY continues to grab headlines as it rallied for a third session and drove home the introduction of two‐way CNY risk. Speculation is building that the Ukraine will face a currency devaluation but there was little contagion from this or from developments in Venezuela. Today’s data focuses on housing, confidence and manufacturing; all of which are likely to be impacted by weather. There are two Fed speakers, Tarullo and Dudley.
Read the full report: FX Daily
Scotiabank