Note: Market efficiency is clearly being tested currently with the movements in GameStop and the mechanisms involved. We are fully aware of it and as yet it has not filtered into FX.
But there is growing evidence that the next target could be cryptocurrencies so please be mindful of possible volatility.
Points of the week:
EUR/USD bounced from $1.2090 to $1.2140 over this 24-cycle, GBP/USD followed suit up from $1.3640 to $1.3745 over the same period. The EUR is the interesting one here as the ECB is starting to signal its unease at its appreciation. This wasn’t enough to hit the pair, but EUR/GBP is plumbing lows not seen since May 2020 on this news and probably enhanced by the UK’s accelerated vaccine program compared to Europe.
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