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Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

USD Slips Lower on Economic Data

Published June 16, 2017
  • USD slipped lower against other major currencies today, pulling back from a recent two-week high on new US data
  • EUR/USD is up this morning, coming off two-week lows after the International Monetary Fund and the Eurozone backed a payout of €8.5 billion to Greece in order to avoid a default in July
  • Oil is higher today on reports of a partial export halt in Libya – recovering some losses – but is still on track for weekly losses of around 2.5%
  • GBP/USD is up on the day, supported by three members of the Bank of England’s Monetary Policy Committee surprising markets by voting in favor of a rate hike yesterday; the BoE, however, chose to keep rates unchanged