MARKET UPDATE 22-Feb-19

The rise by the greenback, however, had been limited after yesterday’s soft U.S. economic data. This included an unexpected fall in core capital goods orders and weak existing home sales, which affirmed expectations that the Federal Reserve will hold interest rates steady.

The Aussie clawed back some of its recent plunge on upbeat central bank comments, and easing concerns about China’s ban on Australian coal imports.

The Australian dollar was up 0.3 percent after sliding more than 1 percent to a 10-day low the previous day, on fears a ban on the country’s coal by a Chinese port would hurt Australia’s already slowing economy. In addition, upbeat remarks from the country’s central bank chief earlier in the day also boosted the currency.

Meanwhile, Sterling has swung wildly this week as British Prime Minister, Theresa May, tries to persuade European Commission chief Jean-Claude Juncker, to modify her withdrawal deal and then get the tweaked agreement through the British parliament.

FX Rates 22.02.19

 

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