EUR/USD remains under bearish pressure after dropping below 1.1300 and continues to push lower toward mid-1.1200s on Monday. The renewed dollar strength at the start of the week is weighing on the pair as investors gear up for the critical central bank meetings.
The GBP/USD pair remained depressed through the early part of the European session and was last seen hovering near the daily low, around the 1.3225 region.
USD/JPY sicks to gains near daily high, around mid-113.00s amid stronger USD/risk-on.
The AUD/USD pair emerged as the most underperforming currency within the G10 basket in 2021, losing roughly 9% on the year.
NZD/USD battles monthly resistance around 0.6800 amid anxious markets
The USD/CAD pair is trading near the 1.2719 region with a daily low of 1.2692.
The Loonie, like other major currency pairs, looks to key US inflation figures.
USD/CHF is attempting a bounce above 0.9200, although remains confined within the recent trading range, as investors look forward to the Fed decision for a fresh direction.
Oil was steady on Monday, but new concerns about the Omicron coronavirus variant and doubts around the effectiveness of vaccines against it were weighing on prices.
Gold continues struggle for clear direction ahead of key central bank meetings.
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