Page 60 - Urrencies News Today

The Pound Sterling (GBP) regained the upper hand against the US Dollar (USD) following a muted close to the first week of the new trading year.

The GBP/JPY backslid on Friday, slipping back from the week’s peak bids near 186.17 as the Pound Sterling (GBP) broadly softens and markets bid up the Japanese Yen (JPY).

The Mexican Peso (MXN) climbed during the North American session against the US Dollar (USD) due to investors increasing bets that the US Federal Reserve (Fed) would aggressively ease policy, pricing in more than 170 basis points of cuts.

The Australian Dollar (AUD) registered minuscule gains against the US Dollar (USD) on Friday, shrugging off risk aversion due to tensions arising in the Red Sea, along with softer-than-expected economic data from the United States (US).

In Friday's trading session, USD/JPY encountered a setback, currently trading around 144.70 with losses of 0.40%.

In Friday's session, the EUR/GBP pair was observed trading flat at around 0.8600.

The greenback, when tracked by the USD Index (DXY), gave away part of the gains recorded at the auspicious start of the new trading year, managing well to survive just above the 102.00 support throughout a volatile week.

The US Dollar (USD), as gauged by the DXY Index, has experienced downward pressure, trading as low as 102.20 amidst weak Producer Price Index (PPI) data from December but then recovered toward 102.40.

On Thursday, the People’s Bank of China (PBoC) sets the USD/CNY central rate for the trading session ahead at 7.1087 as compared to the previous day's fix of 7.1055 and 7.1667 Reuters estimates.

The USD/CAD pair remains under some selling pressure for the second straight day on Thursday and moves further away from a nearly four-week high, around the 1.3415 region touched on Tuesday.