Key focus in the coming week will be on the Q3 earning season, the Fed, the BOJ, and the BoE interest rate decisions. In addition, geopolitical developments in the Middle East and global manufacturing activity data will be closely watched.
US Dollar Weakens Further Ahead of FOMC Meeting, USDJPY Nears Multi-Week Low 2020-12-14 10:30:00 Nick Cawley, Strategist
US Dollar and USDJPY Price, News and Analysis:
US dollar weakness continues with little in the way of visible support.
USDJPY back below 104.00 and sentiment suggests further weakness. Advertisement
The US dollar continues to slip lower and is on course to hit lows last seen in late-April 2018. While the greenback has been weak for some time, the latest leg lower is being driven by a risk-on theme in the market and news that the US FDA has approved the Pfizer vaccine with delivery and inoculation programs beginning immediately. There is also increased talk that a USD908 billion relief package may soon pass with both sides suggesting that they drop a series of contentious demands that are holding up progress. While this week’s FOMC meeting is unlikely to see any policy