At 7:00 AM Bank of England Rate Decision (exp 5.5%, prev 5.5%)
At 8:30 AM US Weekly Jobless Claims (exp 310k, prev 310k)
The greenback is predominantly lower across the board, struggling near 17-year lows versus the Aussie and 30-year lows against the Loonie. The recent weakness is largely a result of strength in the overseas economies rather than weakness in the US economy, particularly given the recent bout of mixed economic reports.
Sentiment over interest rate differentials will remain a key factor in the currency market, as traders continue to observe the growing disparities between US economic growth and its overseas counterparts – with the US’ clearly lagging. The economic calendar is light today, with just the release of weekly jobless claims, seen unchanged at 310k.
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