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USD Down on Thursday
The US dollar has been lower over the European morning on Friday. Following Monday’s manufacturing data, the absence of any key data has left the greenback a little directionless over the week.
Looking ahead to today’s US session, the focus will be on the Philly Fed manufacturing reading which is forecast to have ticked lower from the last print. USD index trades 96.86 last.
EUR Higher on USD Weakness
EURUSD has been a little firmer today in light of the weakness in USD. Despite the recovery on Thursday, the euro remains rangebound on the week and the outlook is still bearish in the short term, given the weakness in key data. EURUSD trades 1.1131 last.
BOE in Focus
GBPUSD is trading very quietly ahead of the BOE meeting today. While the central bank is not expected to adjust its monetary policy, the market is keen to hear its latest assessment and outlook following the UK elections.
With data still trending lower, the bank’s message will likely be dovish, raising d...
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