Pound retreated around 40 pips to below 1.3750 after rising in the early session amid a struggling Dollar. Dollar’s safe-haven appeal was undermined by the upbeat risk sentiment and falling US Treasury yields.
UK Construction PMI figures were released earlier in the day and rose to 61.7 in March compared to 53.3 previously. The stats however, failed to influence the pair amid worries over disruption to the UK's vaccine rollout.
UK's medical regulator issued a temporary ban on the AstraZeneca vaccine for the below 30 age group due to concern related to blood clotting. This led to speculations about a delay in the easing of lockdowns and weighed on the pair.
13 Apr 2021 07:40 AM
Find out why is the Dollar trading near its 3-week low?
12 Apr 2021 06:35 PM
U.S. stock futures slipped today, signaling a muted opening for major indexes that stand at record highs ahead of a busy week of corporate earnings and economic data.
12 Apr 2021 04:31 PM
Indian equities fell the most in over a month as a rapid surging second wave of the coronavirus across the country acted as the key deterrent to market sentiment.
12 Apr 2021 04:21 PM
The Indian rupee dropped for the sixth consecutive session against the dollar, as a surge in coronavirus cases intensified fears of a delay in economic recovery.
12 Apr 2021 02:54 PM
Pound bounced back from 2 month lows and traded around 1.3750 amid timid US Treasury yields capping Dollar’s gains.
12 Apr 2021 02:46 PM
Check out how European markets are reacting today