21/11/2025
Today’s trading session was characterised by low volatility, resulting in marginal gains for the USD against various currencies, driven by firmer treasury yields following higher than expected US durable goods data.
The US dollar ended slightly weaker yesterday amid discussions of potential currency intervention regarding the Chinese yuan (CNY) and Japanese yen (JPY) earlier in the day.
Friday’s trading activity mirrored that of Thursday, with the USD extending its gains and the GBP weakening across all fronts.
The British Pound (GBP) experienced a widespread decline following the Bank of England meeting, where two of the more hawkish members withdrew their calls for further rate hikes.
Trading remained stagnant yesterday as markets braced for the Fed meeting later in the day.
Early gains in the USD dissipated towards the close of European trading as markets adjusted their positions ahead of tonight’s Federal Reserve meeting, particularly focusing on the Fed’s dot plot.