The FX market had a quiet start into the new trading week. The Euro recovered slightly, rising from 1.0650 to 1.0680 against the US Dollar. Selling interest is noted at 1.07 and 1.0720, while the next notable support level now lies at 1.06.
GBP/USD increased from 1.2525 to 1.2555 in Asia. The Pound remains strong, despite worries around the Brexit process. Recent UK economic data has been solid, putting the Bank of England back into the spotlight. The central bank might be forced to increase interest rates soon, amid rising inflation.
USD/JPY started the new trading week around 111.40 and declined to 111.10, as equity markets fell as well. Support is seen at 110.80, followed by 110.20 and the key level at 110.00. AUD/USD also came under pressure as risk appetite decrease. The currency pair declined from 0.7640 to 0.7610.
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