The Canadian Dollar (CAD) climbed sharply on Friday, adding half a percent against the US Dollar (USD) after January labor market data showed the unemployment rate dropping to 6.5%, its lowest reading since September 2024.
Federal Reserve (Fed) Bank of Atlanta President Raphael Bostic said that inflation has been to high for too long, adding that the Fed can’t lose sight of inflationary concerns at an interview with Bloomberg on Friday.
Lee Hardman from MUFG highlights that the Pound has sold off sharply, with EUR/GBP breaking above its 200-day moving average as markets reprice a more dovish Bank of England path.