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On Friday, the evergreen buck kept hovering at 32-month minimums versus other key currencies because the European Central Bank's latest policy statement ensured broad support to the common currency. At the same time dismal US data worsened optimism over the strength of the American economy.
The currency pair EUR/USD soared 0.50% being worth 1.2083, which is the highest outcome since January 2015.
The single currency tacked on after the ECB left interest rates intact exactly as expected and indicated that information on the tapering of the key bank's asset-purchase program would be unveiled in October.
ECB Governor Mario Draghi added that the outlook for surge and inflation in the euro zone was still intact.
Meanwhile, the evergreen buck was pressured after the US Labor Department posted on Thursday that initial jobless claims tacked on more than anticipated hitting 298,000 the previous week.
USD/JPY sagged 0.65% reaching an 11-month minimum of 107.74.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
Jump in to know the key market events and trading ideas for this week!
The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.
USD’s rally takes a pause, while riskier assets are modestly rising.
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