Market Focused on US Treasury Auctions

Yesterday's Holidays in the UK and US combined with a lack of fresh data has kept FX markets range bound. However, as European markets open we are seeing decent demand for the USD. The EUR/USD slipped through the 1.3900 level and the GBPUSD dropped below 1.5800. Traders are selling out of KRW after a 20% appreciation against the USD on the back of its neighbor’s hawkish activities. We expect a...