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EUR/USD reach 5 month highs

Tuesday 1 June, 2021

Daily Currency Update

Key Movers

UR/USD continues to push higher, touching 5-month highs of $1.2266. This move comes from a range of data across the US and Europe. As global risk appetite improves, the US dollar continues to weaken, whilst at the same time the Eurozone vaccine roll-out is continually getting better. As well as this the Federal Reserve has indicated that it has no plans to taper its bond purchasing, nor raise rates for the foreseeable which is also weighing on the US Dollar.

Expected Ranges

  • GBP/USD: 1.4100 - 1.4275 ▼
  • GBP/EUR: 1.1515 - 1.1680 ▼
  • GBP/AUD: 1.8210 - 1.8455 ▼
  • GBP/CAD: 1.7005 - 1.7230 ▼