Tuesday had the Australian dollar a shade lower vs. its US counterpart, erasing 11 points, or 0.17%. Although snapping a four-day winning streak, hopes of a trade resolution between the US and China appears to be supporting trade-sensitive antipodeans.
Sterling attempted to overthrow the key figure 1.30 Monday, though failed to muster enough oomph to sustain gains as further delays were put into the Brexit process.
Sterling savoured another stellar week, notching gains in excess of 300 points and closing not too far off session highs at 1.2989. Technically, focus has shifted to supply at 1.3472-1.3204 and long-term trend line resistance (etched from the high 1.5930), following last week’s dominant push through the 2019 yearly opening level at 1.2739.
The pound remained at the mercy of breaking Brexit news Thursday, with early reports that the DUP is still dissatisfied with the draft proposals drawn up by UK and EU negotiators.
Thanks to sub-standard US retail sales and ongoing Brexit-related optimism, EUR/USD bulls continued to strengthen their grip Wednesday, adding more than 40 points and recording a second successive gain.