Published On: Fri, Jan 19th, 2018

US dollar slides across the board again

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The dollar selling is starting to come up again after UK data

EUR/USD up to session highs at 1.2295, and cable has also rebounded all the way from 1.3905 all the way to fresh highs of 1.3945 – highest levels since the Brexit vote.

USD/CAD has also fallen down to 1.2406 near session lows of 1.2400.

Anyway, if you’re looking for a GBP reaction to the retail sales data be mindful. EUR/GBP gives a better handle on sterling sentiment, and it moved from 0.8810 to 0.8825 and is now at 0.8822. So, it’s not a sterling rebound on the data – but more of the case that the dollar is weakening.

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