The recent spike in oil prices could fuel global inflationary pressures, which has bolstered the USD to a 2 week high.
Rising US bond yields and easing concerns over geopolitical risks has also positively weighed on the greenback as it open’s the day above 12.1/USD. Progress in US-China trade negotiations & North Korea to suspend its nuclear ambitions to focus on economic growth and peace, have somewhat eased global markets.
It’s a jam packed week ahead with US GDP figures; ECB monetary policy meeting; local consumer confidence and March inflation figures the highlights. Have a fantastic week folks…
All rates quoted are the interbank rates at time of publishing and shown for indicative purposes only. It is important to note that foreign exchange rates fluctuate and that the rates will vary depending on the amount and product purchased and sold.