Today is a US and UK holiday leaving liquidity light and opening the potential of some awkward chart patters; particularly once Europe closes, leaving Canada as the sole open market. However news flow is active with the slight shift in the EU elections towards an anti‐EU right, President Draghi’s speech refining the ECB policy frameworkand a dovish set of BoJ minutes. The USD is stronger; even in an environment where equities have rallied and bond yields are lower.
Read the full report: FX Daily
Scotiabank