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The US Dollar has continued its rally over the European morning on Thursday with the USD index trading up to 97.05. Yesterday, the ADP employment reading came in well above expectations at 202k vs 160k expected, fuelling expectations for a strong reading in Friday’s employment report.
EUR Lower on USD Strength
EURUSD has been lower over the session so far in light of the rally in USD. Weakness in Eurozone data readings across the week has weighed on the single currency. Traders now ait on the release of the December ECB meeting minutes due later today. Should the minutes reveal any support for further easing among ECB policymakers, EUR is likely to trade much lower.
GBPUSD trades lower over the day with the rally in USD weighing on the G10 bloc. MPs continue to debate the PM’s Brexit bill in the Commons with a vote due later today. The bill is expected to be passed, given the strong Conservative majority, which should keep GBP supported in the near term. GBPUSD t...
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