The Dollar is ending the week on a slightly weaker note but ultimately remains in pretty narrow ranges versus the majors. The EUR/USD cross has pushed back above 1.13 for the first time since the 26th March, with Euro-bulls seemingly encouraged by ECB Board member Praet’s comments that the ECB was comfortable with markets not pricing in an ECB rate cut for the next 21 months to the extent that low yields would help spur Eurozone inflation.
Similarly the AUD/USD cross has risen to the top end of a 0.70-0.72 range in place since early February, with the Australian Dollar helped along by the release of strong Chinese trade data for March. Price action in Sterling remains remarkably subdued given the never-ending Brexit saga and associated uncertainty, with markets (and the rest of the world) waiting for the next meaningfulinstallment.
