23 Dec 2014
AUD and GBP weakest among majors – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team share the performance by majors in the FX Space, noting AUD and GBP to be the weakest performers, pinned down by falling commodity prices and domestic data respectively.
Key Quotes
“The US dollar is narrowly mixed. The euro is pinned in a quarter cent range above $1.2220.”
“The dollar is higher against the yen for the fifth consecutive session. It may be the first time since December 8 that the dollar spend the entire session above JPY120.”
“The Australian dollar and sterling are the weakest of the majors. The former is weighed down by rising expectations for 1-2 rate cuts next year. Falling commodity prices also said to take toll. It recorded new four-year lows below $0.8100, but has recovered to little changed levels in the European morning. The latter cannot bounce and is spending more time below $1.56. Q3 GDP unrevised on quarterly basis, but the year-over-year pace was cut to 2.6% from 3.0%. The current account deficit swelled and at GBP27 bln in Q3, it is nearly 6% of GDP.”
“The Norwegian krone is the strongest of the majors, as it corrects last week's overshoot within a consolidative tone.”
Key Quotes
“The US dollar is narrowly mixed. The euro is pinned in a quarter cent range above $1.2220.”
“The dollar is higher against the yen for the fifth consecutive session. It may be the first time since December 8 that the dollar spend the entire session above JPY120.”
“The Australian dollar and sterling are the weakest of the majors. The former is weighed down by rising expectations for 1-2 rate cuts next year. Falling commodity prices also said to take toll. It recorded new four-year lows below $0.8100, but has recovered to little changed levels in the European morning. The latter cannot bounce and is spending more time below $1.56. Q3 GDP unrevised on quarterly basis, but the year-over-year pace was cut to 2.6% from 3.0%. The current account deficit swelled and at GBP27 bln in Q3, it is nearly 6% of GDP.”
“The Norwegian krone is the strongest of the majors, as it corrects last week's overshoot within a consolidative tone.”